Societe Generale: Q3 NI multiplied by 4.6

(CercleFinance.com) - For Q3 2024, Societe Generale has reported a 4.
6-fold increase in net income (group share) to E1.37bn, representing a return on net tangible assets (ROTE) of 9.6%, and a 37.3% increase in gross operating income (GOI) to E2.51bn.

This increase reflects a cost/income ratio that improved by 7.1 points to 63.3%, thanks to both a 0.8% fall in operating expenses to E4.33bn, and 10.5% growth in net banking income to E6.84bn.

Our revenues are up thanks to the good performance of our business lines, with a strong rebound in the net interest margin in France, and a continuing remarkable contribution from our corporate banking and investor solutions business, CEO Slawomir Krupa said.

The first benefits of the execution of our strategic plan are tangibly materialising in our results, he continues, also pointing to a controlled net cost of risk and a further increase in the capital ratio.


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