Société Générale: share rises after stress tests

(CercleFinance.com) - All shares of the major French banks, including Société Générale, were up on Monday following Friday evening's publication of the results of the latest stress tests conducted by the European Central Bank (ECB).


At 11.15 am, Société Générale shares were up over 1%, just edging the CAC 40 (+0.8%). Meanwhile, Crédit Agricole shares were up 1.3%, while BNP Paribas shares were trailing slightly (+0.5%).

The European STOXX 600 index for the banking sector was up nearly 1%.

Regarding Société Générale, its final CET1 ratio came in at 7.5% under the ECB's unfavourable three-year scenario, compared with a starting point of 13.2% at end-2020.

The ECB's stress tests did not result in a pass or fail, and no threshold was set to assess banks, with the ECB seeing it more as an element of "supervisory dialogue".


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