Société Générale: fall in underlying earnings
(CercleFinance.com) - Société Générale has published Q1 2018 underlying earnings that are down 13.
5% at 1,204 million euros, with gross underlying operating income that is down 8.7% at 2,071 million euros.
Underlying net banking income fell by 2.5% to 6,294 million euros, with a 0.7% fall in retail banking in France, a 2.5% growth in international retail banking and financial services, and a fall of 13.4% in banking for large corporate customers and investor solutions.
At 31 March 2018, the unphased Common Equity Tier 1 ratio reached 11.2% (11.4% at end December 2017), down 20 basis points compared to the end of December 2017. The group's gearing reached 4.1% at 31 March 2018 (vs. 4.3% at end-December 2017).
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5% at 1,204 million euros, with gross underlying operating income that is down 8.7% at 2,071 million euros.
Underlying net banking income fell by 2.5% to 6,294 million euros, with a 0.7% fall in retail banking in France, a 2.5% growth in international retail banking and financial services, and a fall of 13.4% in banking for large corporate customers and investor solutions.
At 31 March 2018, the unphased Common Equity Tier 1 ratio reached 11.2% (11.4% at end December 2017), down 20 basis points compared to the end of December 2017. The group's gearing reached 4.1% at 31 March 2018 (vs. 4.3% at end-December 2017).
Copyright (c) 2018 CercleFinance.com. All rights reserved.