Société Générale: quarterly underlying income down
(CercleFinance.com) - Société Générale has published Q1 underlying group net income that is down 16.
1% at 1,010 million euros, with underlying operating profit that is down 15% at 1,582 million euros.
Risk provisions increased 26.9% to -264 million euros, and the group's underlying gross operating income fell 10.8% to 1.846 million euros, with underlying management costs up 2.9% at -4,345 million euros and revenues down 1.6% at 6,191 million euros.
"As a result of our determined actions, we saw a substantial increase in CET1 ratio in Q1 19, strengthening our ability to achieve the 12% CET1 ratio target as soon as possible;" company boss Fréderic Oudéa said however.
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1% at 1,010 million euros, with underlying operating profit that is down 15% at 1,582 million euros.
Risk provisions increased 26.9% to -264 million euros, and the group's underlying gross operating income fell 10.8% to 1.846 million euros, with underlying management costs up 2.9% at -4,345 million euros and revenues down 1.6% at 6,191 million euros.
"As a result of our determined actions, we saw a substantial increase in CET1 ratio in Q1 19, strengthening our ability to achieve the 12% CET1 ratio target as soon as possible;" company boss Fréderic Oudéa said however.
Copyright (c) 2019 CercleFinance.com. All rights reserved.