Societe Generale: NI 2.4 times higher in Q4
(CercleFinance.com) - Societe Generale has reported a 2.
4-fold increase in net income (group share) to E1.04bn for Q4 2024, giving a return on net tangible assets (ROTE) of 6.6%, and gross operating income (GOI) up 57% to E2.03bn.
This increase reflects a cost/income ratio that improved almost nine points to 69.4%, thanks to both a 1.5% reduction in operating expenses to less than E4.6bn, and 11.1% growth in net banking income to E6.62bn.
Over 2024, our performance greatly improved. All our targets have been exceeded, ahead of schedule, CEO Slawomir Krupa saod, with the banking group's annual NBI up 68.6% to E4.2bn.
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4-fold increase in net income (group share) to E1.04bn for Q4 2024, giving a return on net tangible assets (ROTE) of 6.6%, and gross operating income (GOI) up 57% to E2.03bn.
This increase reflects a cost/income ratio that improved almost nine points to 69.4%, thanks to both a 1.5% reduction in operating expenses to less than E4.6bn, and 11.1% growth in net banking income to E6.62bn.
Over 2024, our performance greatly improved. All our targets have been exceeded, ahead of schedule, CEO Slawomir Krupa saod, with the banking group's annual NBI up 68.6% to E4.2bn.
Copyright (c) 2025 CercleFinance.com. All rights reserved.