Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Q3 2015 Earnings Presentation
69 slides from Societe Generale S.a. Class A's earnings presentation, Nov 5, 2015
Slide 1: Group Results 3rd Quarter and First 9 Months 2015
SOCIETE GENERALE GROUP RESULTS 3RD QUARTER AND FIRST 9 MONTHS 2015 5 NOVEMBER 2015 P.1
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements relating to the targets and strategies of the Societe Generale Group. These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods
Slide 3: Introduction
INTRODUCTION GROUP BUSINESS RESULTS CONCLUSION KEY FIGURES P.3
Slide 4: Taking advantage of the European rebound
SOCIETE GENERALE GROUP dd TAKING ADVANTAGE OF THE EUROPEAN REBOUND Group NBI(1) EUR 6.0bn, +2.1%* in Q3 15 vs. Q3 14: NBI substantially higher* vs. Q3 14 in French and International Retail Banking and Financial Services activities, low Global Markets in challenging market conditions Successful Accel
Slide 5: Digitalisation is transforming society and retail customer behaviour in France
SOCIETE GENERALE GROUP DIGITALISATION IS TRANSFORMING SOCIETY AND RETAIL CUSTOMER BEHAVIOUR IN FRANCE 4 digital trends that have changed our lives… …and will accelerate in the future(1) Internet penetration to grow from 35% of global population in 2014 to more than 80% in 2025 Smartphone subscriptio
Slide 6: Leveraging on our strong complementary brands in France
SOCIETE GENERALE GROUP LEVERAGING ON OUR 3 STRONG COMPLEMENTARY BRANDS IN FRANCE Acceleration towards a disruptive model in the retail banking Accelerate the Transform the relationship model to enhance the acquisition of new customer relationship clients >2m Boursorama clients by 2020 2020 ROE targe
Slide 7: An ambitious project to support this transformation
SOCIETE GENERALE GROUP AN AMBITIOUS PROJECT TO SUPPORT THIS TRANSFORMATION Adapt the networks Launch new digital Accompany people in our initiatives transformation Remodel the branch format Invest EUR1.5bn(2) in “change Adapt the recruitment Adapt commercial approach within the bank” by 2020 mainly
Slide 8: Boursorama: leverage on its leadership to accelerate client acquisition
SOCIETE GENERALE GROUP BOURSORAMA: LEVERAGE ON ITS LEADERSHIP TO ACCELERATE CLIENT ACQUISITION A complete range of banking products and services Boursorama: pioneer and leading online bank in France Debit card, housing loans, consumer credit, savings products, personal finance • Proven innovation tr
Slide 9: Group Business Results
INTRODUCTION GROUP BUSINESS RESULTS CONCLUSION KEY FIGURES P.9
Slide 10: Solid business results
SOCIETE GENERALE GROUP dd SOLID BUSINESS RESULTS Group Results (in EUR m) NBI(1) at EUR 6.0bn in Q3 15, +2.1%* vs. Q3 14 • Good commercial activity overall In EUR m Q3 14 Q3 15 Change 9M 14 9M 15 Change Net banking income 5,876 6,364 +8.3% +7.9%* 17,432 19,586 +12.4% +10.3%* +5.2%* • Solid growth in
Slide 11: Cost discipline to be maintained
SOCIETE GENERALE GROUP dd COST DISCIPLINE TO BE MAINTAINED Successful implementation of 2013-2015 Cost Reduction Plan (in EUR m) EUR 900m cost reduction programme RECURRING COST ONE-OFF TRANSFORMATION SAVINGS COSTS Continuing the current effort with additional 900 850 450 EUR 850m of savings planned
Slide 12: Low cost of risk
SOCIETE GENERALE GROUP dd LOW COST OF RISK Cost of Risk (in bp)(1) French Retail Banking 2016 • Downward trend confirmed, low level on corporates Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Targets 66 51 47 38 42 FRENCH International Retail Banking and Financial 45-50 RETAIL BANKING Services 128 • Lower cost of r
Slide 13: Solid capital position
SOCIETE GENERALE GROUP dd SOLID CAPITAL POSITION CET1 Ratio(1) Common Equity Tier 1 Ratio(1) in line with Hybrid coupons trajectory +3bp 10.5% at end-Q3 15, up +18bp vs. Q2 15 -11bp +10bp +22bp -3bp • Solid capital generation DVA and Q3 15 Dividend RWA prudential 10.5% Earnings(3) provision change 1
Slide 14: Capital generation and optimisation offset potential regulatory headwinds
SOCIETE GENERALE GROUP dd CAPITAL GENERATION AND OPTIMISATION OFFSET POTENTIAL REGULATORY HEADWINDS END-2016 END-2017 Q3 15 TOTAL CAPITAL RATIO >15% TOTAL CAPITAL TOTAL CAPITAL RATIO >18% RATIO: 15.7% CET 1: ~11% CET 1: 10.5% LEVERAGE RATIO LEVERAGE 4-4.5% RATIO 3.9% Main assumptions: 10% ROE at end
Slide 15: Business Results
INTRODUCTION GROUP BUSINESS RESULTS CONCLUSION KEY FIGURES P.15
Slide 16: Sustained commercial dynamism
FRENCH RETAIL BANKING dd SUSTAINED COMMERCIAL DYNAMISM Net New Individual Customer Accounts Adding +274,000 net account openings (in Thousands) across three brands in 9M 15 (+59%) 163 170 221 274 CREDIT DU NORD • Highest level in last 10 years 37 • Successful relationship model and digital SOCIETE 1
Slide 17: Solid profitability
FRENCH RETAIL BANKING dd SOLID PROFITABILITY Net Banking Income(1) (in EUR m) Continued rise in revenue (+4.2%(1) vs. Q3 14) 2,082 2,136 2,164 2,119 2,170 • Net interest income up +3.4%(1): FEES Strong home loan production and early repayment 826 857 850 854 871 penalties, negative impact of home lo
Slide 18: Positive growth dynamics
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES dd POSITIVE GROWTH DYNAMICS International Retail Banking International Retail Banking Loan and Deposit Outstandings Breakdown (in EUR bn – change vs. end-Q3 14, in %*) • Strong deposit collection across network +2.9%* 77.2 69.3 +5.6%* TOTAL • Europ
Slide 19: Improving performance across businesses
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES dd IMPROVING PERFORMANCE ACROSS BUSINESSES Net Banking Income (in EUR m) Solid contribution overall 1,899 +5.0%* 1,888 TOTAL 193 +7.7%* 206 INSURANCE • Upward revenue trend confirmed (+5%* vs. Q3 14), FINANCIAL 336 +16.9%* SERVICES TO especially in
Slide 20: Continued dynamic financing and advisory, lower market activities
GLOBAL BANKING AND INVESTOR SOLUTIONS dd CONTINUED DYNAMIC FINANCING AND ADVISORY, LOWER MARKET ACTIVITIES Net Banking Income (in EUR m) Revenues EUR 2,000m, -5.4% vs. Q3 14 2,115 2,000 TOTAL Global Markets & Investor Services: NBI -10.4% vs. Q3 14 435 EQUITIES 411 FIXED INCOME, • Equities: -5.5%, s
Slide 21: 9M 15 contribution increasing reflecting diversified business mix
GLOBAL BANKING AND INVESTOR SOLUTIONS dd 9M 15 CONTRIBUTION INCREASING REFLECTING DIVERSIFIED BUSINESS MIX Financing: New Commitments (in EUR bn) Operating Expenses EUR 1,562m (+1.6% vs. Q3 14) ~500 ~600 NUMBER OF DEALS +37% • Continued discipline on costs 65 CUMULATIVE ORIGINATED VOLUMES Lower Risk
Slide 22: Corporate Centre
SOCIETE GENERALE GROUP dd CORPORATE CENTRE Corporate Centre Results NBI impact from revaluation of own financial liabilities In EUR m Q3 14 Q3 15 9M 14 9M 15 Net banking income (157) 314 (839) 427 • EUR +447m in Q3 15, (EUR -4m in Q3 14) Net banking income (1) (153) (133) (656) (394) • EUR +821m in
Slide 23: Conclusion
INTRODUCTION GROUP BUSINESS RESULTS CONCLUSION KEY FIGURES P.23
Slide 24: Client-focused strategy creating value in the long term
SOCIETE GENERALE GROUP dd CLIENT-FOCUSED STRATEGY CREATING VALUE IN THE LONG TERM Continued adaptation to client needs Solid business growth driven by successful client-focused strategy • Front-running the digital revolution • Tight supervision of costs and risks: efficiency programme and strict mon
Slide 25: Key Figures
INTRODUCTION GROUP BUSINESS RESULTS CONCLUSION KEY FIGURES P.25
Slide 26: Key figures
SOCIETE GENERALE GROUP dd KEY FIGURES In EUR m Chg Q3 15 Chg Q3 vs. Q2 9M 15 Q3 vs. Q3 Net banking income 6,364 -7.4% +8.3% 19,586 Operating expenses (3,978) -3.5% +1.5% (12,544) Net cost of risk (571) -21.1% -11.1% (1,908) Financial results Group net income 1,126 -16.7% +27.7% 3,345 ROE 9.0% 9.0% R
Slide 27: Group Results Supplement
SOCIETE GENERALE GROUP RESULTS SUPPLEMENT 3RD QUARTER AND FIRST 9 MONTHS 2015 5 NOVEMBER 2015
Slide 28: Table of contents
TABLE OF CONTENTS Societe Generale Group International Retail Banking and Financial Services Quarterly income statement by core business 28 Quarterly results 44 9M income statement by core business 29 9M results 45 Quarterly non economic and other important items 30 Quarterly results of Internationa
Slide 29: Quarterly income statement by core business
SUPPLEMENT – SOCIETE GENERALE GROUP QUARTERLY INCOME STATEMENT BY CORE BUSINESS International Retail Banking and Global Banking and French Retail Banking Financial Services Investor Solutions Corporate Centre Group In EUR m Q3 14 Q3 15 Q3 14 Q3 15 Q3 14 Q3 15 Q3 14 Q3 15 Q3 14 Q3 15 Net banking inco
Slide 30: 9M 15 income statement by core business
SUPPLEMENT – SOCIETE GENERALE GROUP 9M 15 INCOME STATEMENT BY CORE BUSINESS International Retail Banking and Global Banking and French Retail Banking Financial Services Investor Solutions Corporate Centre Group In EUR m 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 Net banking income 6
Slide 31: Quarterly non economic and other important items
SUPPLEMENT – SOCIETE GENERALE GROUP QUARTERLY NON ECONOMIC AND OTHER IMPORTANT ITEMS Net banking Operating Group net In EUR m Q3 14 income expenses Others Cost of risk income Revaluation of own financial liabilities* (4) (3) Corporate Centre Accounting impact of DVA* 2 1 Group Accounting impact of C
Slide 32: 9 months non economic and other important items
SUPPLEMENT – SOCIETE GENERALE GROUP 9 MONTHS NON ECONOMIC AND OTHER IMPORTANT ITEMS Net banking Operating Group net In EUR m 9M 14 income expenses Others Cost of risk income Revaluation of own financial liabilities* (183) (120) Corporate Centre Accounting impact of DVA* 5 3 Group Accounting impact o
Slide 33: IFRIC 21 and SRF impact
SUPPLEMENT – SOCIETE GENERALE GROUP IFRIC 21 AND SRF IMPACT International Retail Global Banking and French Retail Banking Banking and Financial Corporate Centre Group Investor Solutions Services 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 9M 14 9M 15 Total IFRIC 21 impact - NBI -26 -26 Total IFR
Slide 34: CRR/CRD4 prudential capital ratios
SUPPLEMENT – SOCIETE GENERALE GROUP CRR/CRD4 PRUDENTIAL CAPITAL RATIOS 30 June 15 30 Sept. 15 In EUR bn Shareholder equity group share 56.1 57.9 Deeply subordinated notes* (8.3) (9.4) Undated subordinated notes* (0.4) (0.4) Dividend to be paid & interest on subordinated notes (1.0) (1.5) Goodwill an
Slide 35: CRR leverage ratio
SUPPLEMENT – SOCIETE GENERALE GROUP CRR LEVERAGE RATIO (1)) CRR fully loaded leverage ratio(1 In EUR bn 30 June 15 30 Sept. 15 Tier 1 45.9 46.9 Total prudential balance sheet(2) 1,257 1,250 Adjustement related to derivatives exposures (87) (97) Adjustement related to securities financing transaction
Slide 36: Risk-weighted assets
SUPPLEMENT – RISK MANAGEMENT RISK-WEIGHTED ASSETS* (CRR/CRD 4, in EUR bn) TOTAL 92.7 94.2 94.5 105.4 103.1 102.8 137.3 144.2 139.1 17.6 19.7 18.9 353.1 361.2 355.4 43.9 43.4 43.9 OPERATIONAL 28.6 28.6 28.6 21.1 MARKET 23.9 17.9 CREDIT 19.3 6.4 6.0 17.1 6.0 4.1 4.0 4.0 0.0 0.1 0.1 22.7 0.1 0.1 0.2 28
Slide 37: Well-managed exposure to oil & gas
SUPPLEMENT – RISK MANAGEMENT WELL-MANAGED EXPOSURE TO OIL & GAS Group Oil & Gas Lending Exposure (EAD)(1) Lending exposure to the oil and gas sector: By Geography By Counterparty Type(2) EUR 22.5bn, 2.8% of the Group’s EAD LATIN AMERICA Sound credit portfolio EASTERN OTHER STATE MIDSTREAM COMPANIES
Slide 38: Change in gross book outstandings
SUPPLEMENT – RISK MANAGEMENT CHANGE IN GROSS BOOK OUTSTANDINGS* End of period in EUR bn 424.7 421.9 420.6 434.6 437.2 431.0 448.6 462.3 469.1 GLOBAL BANKING AND INVESTOR SOLUTIONS 142.6 141.7 122.3 126.6 136.8 111.4 109.2 108.6 124.2 INTERNATIONAL RETAIL BANKING AND 123.1 123.2 FINANCIAL SERVICES 12
Slide 39: Doubtful loans
SUPPLEMENT – RISK MANAGEMENT DOUBTFUL LOANS In EUR bn 30/09/2014 31/12/2014 30/09/2015 Gross book outstandings* 431.8 427.0 465.3 Doubtful loans* 24.8 23.7 23.6 Gross non performing loans ratio* 5.7% 5.6% 5.1% Specific provisions* 13.7 13.1 13.3 Portfolio-based provisions* 1.2 1.3 1.3 Gross doubtful
Slide 40: Change in trading VaR and stressed VaR
SUPPLEMENT – RISK MANAGEMENT CHANGE IN TRADING VAR* AND STRESSED VAR Quarterly average of 1- 1-day, 99% Trading VaR* VaR* (in EUR m) 31 31 22 24 24 23 20 20 19 Trading VaR VaR** CREDIT 13 19 8 8 16 7 8 INTEREST RATES 11 6 24 23 15 15 17 23 17 16 EQUITY 18 11 14 13 11 14 10 9 7 8 FOREX 3 3 3 2 2 1 3
Slide 41: Diversified exposure to Russia
SUPPLEMENT – RISK MANAGEMENT DIVERSIFIED EXPOSURE TO RUSSIA EAD as of Q3 15: EUR 15.0bn(1) FINANCIAL OTHER INSTITUTIONS CORPORATES CORPORATES TIER 1(2) SOVEREIGN 2%3% 10% 25% ONSHORE CAR LOANS 27% 36% MORTGAGES OFFSHORE RETAIL 47% 23% 21% CONSUMER LOANS 5% OTHER (1) EAD net of provisions (2) Top 500
Slide 42: Change in net banking income
SUPPLEMENT – FRENCH RETAIL BANKING CHANGE IN NET BANKING INCOME Commissions: +5.5% vs. Q3 14 • Financial commissions: +15.0% • Service commissions: +3.1% 2,019 2,118 2,055 2,153 2,162 NBI in EUR m Interest margin: +3.4%(1) vs. Q3 14 168 179 171 209 193 FINANCIAL COMMISSIONS COMMISSIONS 679 678 SERVI
Slide 43: Customer deposits and financial savings
SUPPLEMENT – FRENCH RETAIL BANKING CUSTOMER DEPOSITS AND FINANCIAL SAVINGS Change Average outstandings Q3 15 vs. Q3 14 in EUR bn 283.2 284.1 +4.8% 271.2 271.9 276.4 LIFE INSURANCE 88.3 +3.6% Financial 88.4 85.2 85.7 87.3 savings: EUR 112.5bn MUTUAL FUNDS +4.3% 23.5 +11.5% OTHERS 22.8 23.4 (SG REDEEM
Slide 44: Loan outstandings
SUPPLEMENT – FRENCH RETAIL BANKING LOAN OUTSTANDINGS Change Average outstandings , net of provisions Q3 15 vs. Q3 14 in EUR bn 175.4 176.7 179.0 174.9 174.4 +2.7% INDIVIDUAL CUSTOMERS o.w.: 84.8 84.8 85.4 87.2 89.3 +5.4% - HOUSING - CONSUMER CREDIT AND 11.0 OVERDRAFT 11.1 11.1 11.0 11.0 -1.3% BUSINE
Slide 45: Quarterly results
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES QUARTERLY RESULTS Financial International Services to Insurance Other Total retail Banking corporates In EUR m Q3 14 Q3 15 Change Q3 14 Q3 15 Change Q3 14 Q3 15 Change Q3 14 Q3 15 Q3 14 Q3 15 Change Net banking income 1,374 1,285 +0.7%
Slide 46: 9M 15 results
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES 9M 15 RESULTS Financial International Services to Insurance Other Total retail Banking corporates In EUR m 9M 14 9M 15 Change 9M 14 9M 15 Change 9M 14 9M 15 Change 9M 14 9M 15 9M 14 9M 15 Change Net banking income 4,020 3,756 -1.3%* 99
Slide 47: Quarterly results of International Retail Banking: breakdown by zone
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES QUARTERLY RESULTS OF INTERNATIONAL RETAIL BANKING: BREAKDOWN BY ZONE Africa, Asia, Total International Western Europe Czech Republic Romania Russia (1) Other Europe Mediterranean retail Banking basin and Overseas In EUR m Q3 14 Q3 15 Q
Slide 48: 9M 15 results of International Retail Banking: breakdown by zone
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES 9M 15 RESULTS OF INTERNATIONAL RETAIL BANKING: BREAKDOWN BY ZONE Africa, Asia, Total International Western Europe Czech Republic Romania Russia (1) Other Europe Mediterranean retail Banking basin and Overseas In EUR m 9M 14 9M 15 9M 14
Slide 49: Loan and deposit outstandings breakdown
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES LOAN AND DEPOSIT OUTSTANDINGS BREAKDOWN Loan outstandings breakdown Deposit outstandings breakdown (in EUR bn bn)) (in EUR bn) bn) Change Change Sep.15 vs. Sep.14 Sep.15 vs. Sep.14 1.6 -15.3%* 1.3 O.w. EQUIPMENT 15.0 +4.3%* 15.3 FINANC
Slide 50: SG Russia
SUPPLEMENT – INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES SG RUSSIA(1) In EUR m Q3 14 Q3 15 Change 9M 14 9M 15 Change Net banking income 300 189 -7.4%* 903 527 -19.3%* Operating expenses (201) (138) +1.0%* (620) (463) +3.6%* Gross operating income 99 51 -24.6%* 283 63 -69.1%* Net cost of risk
Slide 51: Quarterly results
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS QUARTERLY RESULTS Global Markets and Asset & Wealth Total Global Banking and Investor Financing and Advisory Investor Services Management Solutions In EUR m Q3 14 Q3 15 Change Q3 14 Q3 15 Change Q3 14 Q3 15 Change Q3 14 Q3 15 Change Net banking inco
Slide 52: 9M 15 results
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS 9M 15 RESULTS Global Markets and Asset & Wealth Total Global Banking and Investor Financing and Advisory Investor Services Management Solutions In EUR m 9M 14 9M 15 Change 9M 14 9M 15 Change 9M 14 9M 15 Change 9M 14 9M 15 Change Net banking income 4
Slide 53: Risk-weighted assets in EUR bn
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS RISK-WEIGHTED ASSETS IN EUR BN GLOBAL MARKETS GLOBAL MARKETS AND INVESTOR INVESTOR SERVICES SERVICES 71.5 63.0 61.2 11.8 14.0 11.8 2.2 22.1 0.2 20.7 1.7 2.2 20.7 0.4 0.1 20.9 17.0 16.0 11.6 9.7 9.5 28.4 25.3 24.4 Q3 14 Q2 15 Q3 15 Q3 14 Q2 15 Q3 15
Slide 54: Revenues
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS REVENUES Global Markets and Investor Services revenues Asset and Wealth Management revenues (in EUR m) (in EUR m) 144 142 188 184 PRIME SERVICES 117 OTHERS 104 6 163 170 SECURITIES 143 5 853 799 SERVICES 3 52 6 6 152 49 435 652 55 52 44 LYXOR 411 EQ
Slide 55: Key figures
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS KEY FIGURES Private Banking: Assets under management(1) Lyxor: Assets under management(2) Lyxor: (in EUR bn bn)) (in EUR bn) bn) 118 118 116 112 108 106 99 100 85 84 SEP.14 DEC.14 MAR. 15 JUN.15 SEP.15 SEP.14 DEC.14 MAR. 15 JUN.15 SEP.15 Securities
Slide 56: CVA/DVA impact
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS CVA/DVA IMPACT NBI impact Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Equities (1) 3 8 (6) (32) Fixed income, credit, currencies, commodities (7) (3) (5) 34 (31) Financing and Advisory (12) (29) (9) 22 (23) Total (20) (30) (6) 50 (86) 3RD QUARTER AND FIRST 9 MONT
Slide 57: Awards
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS AWARDS FINANCING & ADVISORY DCM - League Table DCM - League Table ECM- League Table M&A- League Table #9 All Euro Bonds #6 All Euro Bonds # 1 France # 3 France #7 All CEEMEA Emerging Market #1 All Euro Bonds in CEEMEA # 8 EMEA # 8 Germany #1 All Eur
Slide 58: Landmark transactions in Q3 2015
SUPPLEMENT – GLOBAL BANKING AND INVESTOR SOLUTIONS LANDMARK TRANSACTIONS IN Q3 2015 Societe Generale acted as Joint Bookrunner in the EUR 2.2bn Rights Societe Generale acted as Mandated Lead Arrangers in the set up of Issue of Deutsche Annington. a facility in favor of this Australian-based telecomm
Slide 59: Details on group funding structure
SUPPLEMENT – FUNDING STRUCTURE DETAILS ON GROUP FUNDING STRUCTURE 31 DECEMBER 2014* 30 SEPTEMBER 2015 DUE TO CUSTOMERS 373 350 o.w. Securities sold to o.w. Securities sold to customers under repurchase customers under repurchase agreements: EUR 21bn agreements: EUR 22bn DUE TO BANKS 104 91 o.w. Secu
Slide 60: Group funding
SUPPLEMENT – FUNDING STRUCTURE GROUP FUNDING 2015 long term funding programme(1) Parent company funding programme EUR 25-27bn Issued by parent company EUR 27.8bn Senior debt EUR 23.0bn o/w unsecured debt EUR 21.5bn Average maturity: 4.6 years Average spread: Euribor MS 6M+30bp o/w covered bonds EUR
Slide 61: Funded balance sheet
SUPPLEMENT – FUNDING ANALYSIS FUNDED BALANCE SHEET* ASSETS LIABILITIES In EUR bn 699 699 NET CENTRAL 56 SHORT TERM RESOURCES BANK DEPOSIT 79 23 OTHER INTERBANK LOANS Long Term Funding Breakdown(1) 38 CLIENT RELATED TRADING ASSETS 150 MEDIUM/LONG TERM 94 RESOURCES** LT Interbank Subordinated debt(2)
Slide 62: Short term wholesale funding
SUPPLEMENT – FUNDING ANALYSIS SHORT TERM WHOLESALE FUNDING Share of short term wholesale financing Short term wholesale resources* (in EUR bn) bn) in the funded balance sheet* and short term needs coverage** (%) 140 120 115 100 202% 18% 80 96 178% 180% 15% 168% 60 145% 111% 58 40 59 58 56 9% 9% 8% 8
Slide 63: Liquid asset buffer
SUPPLEMENT – FUNDING LIQUID ASSET BUFFER Liquid asset buffer (in EUR bn bn)) 144 140 146 152 166 CENTRAL BANK DEPOSITS(1) 41 72 51 63 48 HIGH QUALITY LIQUID ASSET SECURITIES(2) 79 75 79 82 76 CENTRAL BANK ELIGIBLE 24 ASSETS(2) 17 16 12 12 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Liquidity Coverage Ratio at 137
Slide 64: EPS calculation
SUPPLEMENT – SHARE EPS CALCULATION Average number of shares (thousands) 2013 2014 9M 15 Existing shares 789,759 801,831 805,877 Deductions Shares allocated to cover stock options and 6,559 4,404 3,918 restricted shares awarded to staff Other treasury shares and share buybacks 16,711 16,144 10,511 Nu
Slide 65: Net asset value, tangible net asset value and ROE equity
SUPPLEMENT – SHARE NET ASSET VALUE, TANGIBLE NET ASSET VALUE AND ROE EQUITY End of period 31 Dec.13 31 Dec.14 30 Sept. 15 End of period 31 Dec.13 31 Dec.14 30 Sept. 15 Shareholder equity group share 50,877 55,229 57,906 Shareholder equity group share 50,877 55,229 57,906 Deeply subordinated notes (6
Slide 66: Methodology (1/3)
TECHNICAL SUPPLEMENT METHODOLOGY (1/3) 1- The Group’s consolidated results as at September 30th, 2015 were examined by the Board of Directors on November 4th, 2015. The financial information presented in respect of Q3 2015 has been prepared in accordance with IFRS as adopted in the European Union an
Slide 67: Methodology (2/3)
TECHNICAL SUPPLEMENT METHODOLOGY (2/3) 6- The Group’s ROTE is calculated on the basis of tangible capital, i.e. excluding cumulative average book capital (Group share), average net goodwill in the assets and underlying average goodwill relating to shareholdings in companies accounted for by the equi
Slide 68: Methodology (3/3)
TECHNICAL SUPPLEMENT METHODOLOGY (3/3) 8 – Non-economic items and restatements 1. Non-economic items correspond to the revaluation of own financial liabilities and DVA. Details of these items, and other items that are restated, are given on page 30 and 31 for Q3 14, Q3 15, 9M 14 and 9M 15. 2. For th
Slide 69: Investor Relations Team
INVESTOR RELATIONS TEAM ANTOINE LOUDENOT, MARION GENAIS, KIMON KALAMBOUSSIS, MURIEL KHAWAM, JONATHAN KIRK, ELODIE THEVENOT-BEJAOUI +33 (0) 1 42 14 47 72 investor.relations@socgen.com www. societegenerale.com/en/investors