SocGen realised an excellent Q1 22, marked by strong activity in CIB and International Retail Banking, and a healthy one in French Retail Banking. The C/I ratio improved strongly below 2022 targets, and the cost of risk increased, including some provisions related to offshore Russian exposure while the guidance for 2022 cost of risk was increased. Capital declined but remained far above regulatory requirements. Rosbank’s disposal is set to weigh 6bp net of rating migrations impact. The rest of t ....
06 May 2022
Very strong Q1 with elevated growth across the board, Rosbank nearing disposal
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Very strong Q1 with elevated growth across the board, Rosbank nearing disposal
- Published:
06 May 2022 -
Author:
Sylvain Perret -
Pages:
4
SocGen realised an excellent Q1 22, marked by strong activity in CIB and International Retail Banking, and a healthy one in French Retail Banking. The C/I ratio improved strongly below 2022 targets, and the cost of risk increased, including some provisions related to offshore Russian exposure while the guidance for 2022 cost of risk was increased. Capital declined but remained far above regulatory requirements. Rosbank’s disposal is set to weigh 6bp net of rating migrations impact. The rest of t ....