Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Q4 2021 Earnings Presentation
78 slides from Societe Generale S.a. Class A's earnings presentation, Feb 10, 2022
Slide 1: Societe Generale Group Results 4th quarter and full year 2021
SOCIETE GENERALE GROUP RESULTS 4th quarter and full year 2021 | 10.02.2022
Slide 2: Disclaimer
DISCLAIMER The financial information on Société Générale for its 4th quarter and 2021 financial results comprises this presentation and a dedicated press release which are available on the website: https://investors.societegenerale.com/fr. This presentation contains forward-looking statements relati
Slide 3: 1 Introduction
1 INTRODUCTION
Slide 4: Record net earnings, high performance across businesses
Click to add RECORD title NET EARNINGS ANNUAL HIGH PERFORMANCE ANNUAL ATTRACTIVE ACROSS BUSINESSES GUIDANCE MET DISTRIBUTION Revenues +16%(1) (17%(1)*) Costs P o s it iv e ~EUR 470m share buy-back +4.3%(1) j a ws vs. 2020 completed end 2021 16.2m shares repurchased and cancelled Record Financing & A
Slide 5: A year of strong achievements and business development
A YEAR OF STRONG ACHIEVEMENTS AND BUSINESS DEVELOPMENT SUCCESSFULLY EXECUTING OUR STRATEGIC REALLOCATION ROADMAPS OF CAPITAL ALD: Strengthening competitive edge in mobility through Proposed acquisition of LeasePlan by ALD innovative sustainable solutions and improved efficiency to create a global mo
Slide 6: Our corporate purpose in action
OUR CORPORATE PURPOSE IN ACTION EMBEDDING ESG ACROSS BUSINESSES DRIVING SUSTAINABLE CHANGE On track to meet -10% target in oil and gas extraction FRENCH GBIS sector by 2025 RETAIL Full exit by 2023 of US onshore Reserve Based Lending (limited . Addressing client needs Deploying across the energy rem
Slide 7: Anchoring the Group's responsibility
ANCHORING THE GROUP’S RESPONSIBILITY CONTRIBUTING TO SOCIETY AND ENGAGED WITH STAKEHOLDERS ACCELERATING SUSTAINABILITY IN FRENCH RETAIL NETWORKS Maintaining the local presence and strengthening the positive local impact SAVINGS Developing business with a social impact Acting as a responsible employe
Slide 8: Meaningful and consistent results in digital
MEANINGFUL AND CONSISTENT RESULTS IN DIGITAL TRANSFORMING OUR BUSINESSES TO FURTHER DEPLOYING THE TECHNOLOGICAL LEVERS TO ENHANCE CLIENT SATISFACTION SUPPORT BUSINESS AND EFFICIENCY 66% 39% 28% >EUR 200m estimated yearly value creation digital retail of digital retail of digital through data & AI (3
Slide 9: Scaling-up new value creating business models
SCALING-UP NEW VALUE CREATING BUSINESS MODELS 1st ever EIB-issued x2 revenues in 2021 digital bonds via CBDC 7m vehicles 5 disruptive transactions proposed in the catalog Digital Assets BaaS: +60% clients in 2021 Data-driven Embedded Finance & e-com >80 digital players lending hosted on the platform
Slide 10: Group performance
2 GROUP PERFORMANCE
Slide 11: Q4 21: Robust gross operating income
Q4 21: ROBUST GROSS OPERATING INCOME GROSS OPERATING POSITIVE JAWS ACROSS COST/INCOME INCOME BUSINESSES RATIO _Underlying gross operating income(1) (EURm) _Change in underlying revenues _Underlying cost/income ratio(1) and costs(1) Q4 21/Q4 20 +17% +24% 1,886 +11.4% 1,618 74.0% 74.0% 1,520 71.0% +6.
Slide 12: 2021, continuous cost discipline
2021, CONTINUOUS COST DISCIPLINE COST EVOLUTION (2021/2020) POSITIVE JAWS COST/INCOME RATIO _Underlying costs(1) (EURm) _Change in underlying revenues _Underlying cost/income(1) 2021/2020 and costs(1) 2021/2020 +4.3% -3.6 ppt +116 -40 -70 +701 17,211 +16.1% 74.6% 70.6% 16,504 67.0% +4.3% 2020 Variab
Slide 13: Low cost of risk across all businesses
LOW COST OF RISK ACROSS ALL BUSINESSES _Cost of risk(1) (in bps) 2020 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 2021 NON-PERFORMING LOANS RATIO(2) 64 54 DEC 17 DEC 18 DEC 19 DEC 20 SEP 21 DEC 21 GROUP 21 11 15 6 13 4.2% 52 3.4% 3.3% 50 3.1% 3.1% 23 2.9% FRENCH RETAIL BANKING 1 -1 -4 5 INTERNATIONAL RETAIL 96 89
Slide 14: Limited defaults, prudent provisioning
LIMITED DEFAULTS, PRUDENT PROVISIONING COST OF RISK STAGE 1/STAGE 2 TOTAL PROVISIONS _Cost of risk (in EURm) _Total provisions(1) (in EURm) 3,306 (64 bps) 3,622 3,486 3,355 689 1,939 (54 bps) 2,282 1,278 2,379 2,162 1,987 371 322 (25 bps) 700 1,231 (29 bps) 86 (13 bps) (6 bps) 1,286 1,368 312 367 94
Slide 15: Solid CET1 at 13.7% at year-end
SOLID CET 1 AT 13.7% AT YEAR-END CET 1 AT 13.7%(1) _Q4 21 change in CET 1(1) ratio (in bp) +18 bps -3 bps 13.7% -40 bps ~ 470 bps buffer over MDA at 9.02% at end 21 +18 bps (~450 bps pro forma 2022 SREP notification(3)) IFRS 9 phasing +16 bps 13.4% 13.4% 2021 ORGANIC CAPITAL IFRS 9 GENERATION AT ~80
Slide 16: Group results
GROUP RESULTS In EU R m Q4 2 1 Q4 2 0 C hange 2021 2020 C hange N et b ank i ng i ncom e 6,620 5,838 +13.4% +11.7%* 25,798 22,113 +16.7% +17.7%* (1) Underlying operating income 6,503 5,838 +11.4% +9.8%* 25,681 22,113 +16.1% +17.2%* Op erat i ng exp enses (4 , 5 6 5 ) (4 , 3 5 1 ) +4.9% +3.6%* (1 7 ,
Slide 17: Business performance
3 BUSINESS PERFORMANCE
Slide 18: French Retail: on track to build a unique dual model
FRENCH RETAIL: ON TRACK TO BUILD A UNIQUE DUAL MODEL TBU ? 2021 MAIN ACHIEVEMENTS DEVELOPING THE WINNING MERGER ON TRACK UNIVERSAL RETAIL MODEL ✓ Presentation of detailedbanking model , signed agreement on HR conditions, target IT framework designed STRENGTHENING OUR CORPORATE ✓ SUPPORT CLIENT BUSIN
Slide 19: French Networks: confirmed merger roadmap
FRENCH NETWORKS: CONFIRMED MERGER ROADMAP PRODUCT MIGRATION DESIGN COMPLETED COST TO ACHIEVE SIGNATURE OF 1st AGREEMENT ON HR CONDITIONS 2021 ~EUR 500-600m PRESENTATION OF DETAILED BANKING MODEL REMAINING EXPECTED IN 2022-2023 IT MERGER PREPARATION ... 2022 ... SAVINGS TRIGGER POINTS SIGNATURE OF TH
Slide 20: French Networks
FRENCH NETWORKS -1% (+9% vs. Q4 19) +7% (+22% vs. Q4 19) +6% +11% AV. LOANS OUTSTANDING vs. Q4 20 AV. DEPOSITS OUTSTANDING vs. Q4 20 AV. LIFE INSURANCE OUTSTANDINGS vs. Q4 20 AV. PRIVATE BANKING AUM vs. Q4 20 _Loans (EURbn) _Deposits (EURbn) _Life insurance outstandings (EURbn) _Private bank AuM (EU
Slide 21: Boursorama: a significant step forward
BOURSORAMA: A SIGNIFICANT STEP FORWARD +38% +25% +28% +25% NEW CLIENT ONBOARDING vs. Q4 20 TOTAL CLIENTS vs. end of Dec. 20 AV. LOANS OUTSTANDING vs. Q4 20 AV. DEPOSITS OUTSTANDING vs. Q4 20 _New client onboarding (‘000) _Total number of clients (m) _Loans (EURbn) _Deposits and financial savings (EU
Slide 22: French Retail Banking results
FRENCH RETAIL BANKING RESULTS In EU R m Q4 21 Q4 20 C hang e 2021 2020 C hang e Net banking income 2,048 1,845 +11.0% 7,777 7,315 +6.3% REVENUES +4.8%(2) VS. 2020 Net banking income excl. PEL/CEL 2,027 1,870 +8.4% 7,738 7,381 +4.8% Operating expenses (1,534) (1,443) +6.3% (5,635) (5,418) +4.0% Net i
Slide 23: IBFS: delivering profitable growth
IBFS: DELIVERING PROFITABLE GROWTH TBU 2021 MAIN ACHIEVEMENTS ✓ HIGH DIGITAL ADOPTION IN RETAIL KB: 1M mobile banking client mark exceeded TRANSFORMING Rosbank: >50% end to end digital sales achieved INTERNATIONAL RETAIL BRD: # of digital transactions up +31% vs. 2020 BANKING ✓ EFFICIENCY INITIATIVE
Slide 24: International Retail Banking
INTERNATIONAL RETAIL BANKING EUROPE RUSSIA (2) AFRICA AND OTHER +7%* +6%* +13%* +21%* +2%* +8%* LOANS OUTSTANDING DEPOSITS OUTSTANDING LOANS OUTSTANDING DEPOSITS OUTSTANDING LOANS OUTSTANDING DEPOSITS OUTSTANDING vs. end of Dec. 20 vs. end of Dec. 20 vs. end of Dec. 20 vs. end of Dec. 20 vs. end of
Slide 25: Financial Services
FINANCIAL SERVICES INSURANCE FINANCIAL SERVICES TO CORPORATES +7%* +5%* 1.7m +12%* SAVINGS LIFE INSURANCE PROTECTION PREMIUM TOTAL ALD CONTRACTS EQUIPMENT FINANCE NEW OUTSTANDINGS vs. end of Dec. 20 vs. Q4 20 as of end of Dec. 21 BUSINESS VOLUMES vs. 2020 _Revenues (EURm) _Revenues (EURm) 605 700 +3
Slide 26: International Retail Banking and Financial Services results
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES RESULTS I n E URm Q4 21 Q4 20 C ha ng e 2021 2020 C ha ng e Net banking income 2,159 1,919 +12.5% +10.3%* 8,117 7,524 +7.9% +9.9%* REVENUES +9.9%* VS. 2020 Operating expenses (1,088) (1,018) +6.9% +4.2%* (4,203) (4,142) +1.5% +3.1%* (1) Underlying
Slide 27: GBIS: delivering on the strategic roadmap
GBIS: DELIVERING ON THE STRATEGIC ROADMAP 2021 MAIN ACHIEVEMENTS REBALANCING THE BUSINESS MIX ✓ CAPITAL REALLOCATION FROM GMIS TO F&A ~EUR 3bn RWA VERY HIGH OPERATING LEVERAGE LOWERING THE BREAK-EVEN POINT ✓ EUR 2.7bn Gross Operating Income Point in time C/I ratio at 72.0% in 2021 (67.6% excl. SRF)
Slide 28: Global Markets and Investor Services
GLOBAL MARKETS AND INVESTOR SERVICES GLOBAL MARKETS & INVESTOR SERVICES REVENUES: +9% vs. Q4 20 EXCELLENT YEAR IN GLOBAL MARKETS, 2021 REVENUES +40% vs. 2020 _Q4 21 Global Markets revenues (EURm) _2021 Global Markets revenues (EURm) GLOBAL MARKETS Q4 21 REVENUES +10% vs. Q4 20 5,001 Very strong clie
Slide 29: Financing and Advisory; Asset and Wealth Management
FINANCING AND ADVISORY ASSET AND WEALTH MANAGEMENT FINANCING AND ADVISORY REVENUES: +20% VS. Q4 20 HIGHEST YEAR ON RECORD, 2021 REVENUES +15% VS. 2020 _Revenues (EURm) 4TH QUARTER IN A ROW OF STRONG GROWTH 2,924 814 2,547 2,546 Excellent momentum in M&A, LBO, TMT Finance and Equity Capital Markets 6
Slide 30: Global Banking and Investor Solutions results
GLOBAL BANKING AND INVESTOR SOLUTIONS RESULTS I n EURm Q4 21 Q4 20 Var i at i on 2021 2020 Var i at i on REVENUES +25.2% VS. 2020 Net banking income 2,320 2,072 +12.0% +9.7%* 9,530 7,613 +25.2% +26.1%* driven by strong business dynamic Operating expenses (1,556) (1,688) -7.8% -9.3%* (6,863) (6,713)
Slide 31: Corporate Center
CORPORATE CENTER IN Q4 21 : I n EURm Q4 2 1 Q4 2 0 2021 2020 NET BANKING INCOME Net banking income 93 2 374 (339) EUR 117m revaluation of one asset Underlying net banking income (1) (24) 2 257 (339) Operating expenses (387) (202) (889) (441) (1) Underlying operating expenses (251) (162) (510) (388)
Slide 32: 4 Conclusion
4, CONCLUSION
Slide 33: 2021: High value creation for shareholders
2021: HIGH VALUE CREATION FOR SHAREHOLDERS _ Group net income(1) _ Earning per share(1) AN ATTRACTIVE DIVIDEND POLICY (EURm) 5,264 5.52 4,061 4.03 2021 PROPOSED DISTRIBUTION OF EUR 2.75 ~ 60% IN CASH ~ 40% IN SHARE BUY-BACKS 2019 2021 2019 2021 _ Tangible net asset per share (EUR) 61.1 CONFIRMED DIS
Slide 34: Focus on execution in 2022
FOCUS ON EXECUTION IN 2022 FRENCH RETAIL INTERNATIONAL GLOBAL BANKING AND BANKING AND INVESTOR SOLUTIONS FINANCIAL SERVICES · PREPARE THE IT AND LEGAL MERGER · EXECUTE THE ROADMAPS OF OUR · FURTHER STRENGTHEN OUR MARKETS OF FRENCH NETWORKS INTERNATIONAL RETAIL BANKS FRANCHISE WHILE MAINTAINING A CON
Slide 35: 5 Supplement
5 SUPPLEMENT
Slide 36: Mapping of 2021 extra-financial ratings
MAPPING OF 2021 EXTRA-FINANCIAL RATINGS AGENCIES BEST SCORE WORST POSITION VERSUS PEERS A1+ D3- TOP 1% ALL COMPANIES 100 69 60 50 30 0 WORLDWIDE AAA AA A BBB BB B CCC TOP 3% BANKS WORLDWIDE 100 80 60 57 54 30 0 TOP DECILE BANKS WORLDWIDE A+ C+ C C- D+ D D- TOP DECILE BANKS WORLDWIDE 0 10 20 22.4 30
Slide 37: Leading the energy transition with flagship targets
LEADING THE ENERGY TRANSITION WITH FLAGSHIP TARGETS DECARBONISING ENGAGING OUR OUR PORTFOLIOS BUSINESSES BEST-IN-CLASS SECTOR POLICIES OIL AND GAS COAL EUR 120bn Reduce overall exposure to Reduce to zero our exposure to support the energy transition extraction sector by 10% to thermal coal in 2030 i
Slide 38: Quarterly income statement by core business
GROUP QUARTERLY INCOME STATEMENT BY CORE BUSINESS Int ernat i onal R et ai l Glob al Bank i ng and F rench R et ai l Bank i ng Bank i ng Invest or Corp orat e Cent re Group and F i nanci al Servi ces Solut i ons In EURm Q4 21 Q4 20 Q4 21 Q4 20 Q4 21 Q4 20 Q4 21 Q4 20 Q4 21 Q4 20 Net banking income 2
Slide 39: FY21 income statement by core business
GROUP FY21 INCOME STATEMENT BY CORE BUSINESS In EURm 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Net banking income 7,777 7,315 8,117 7,524 9,530 7,613 374 (339) 25,798 22,113 Operating expenses (5 , 6 3 5 ) (5,418) (4 , 2 0 3 ) (4,142) (6 , 8 6 3 ) (6,713) (8 8 9 ) (441) (1 7 , 5 9 0 ) (16,71
Slide 40: Underlying data - reconciliation with reported figures
GROUP UNDERLYING DATA - RECONCILIATION WITH REPORTED FIGURES Net profit or Impairment Net Banking Operating Income Q4 21 (in EURm) Cost of risk losses from losses on Group net income Business Income Expenses tax other assets goodwill Reported 6,620 (4,565) (86) 449 (114) (311) 1,787 (+) Revaluation
Slide 41: Underlying data - IFRIC impact
GROUP UNDERLYING DATA - IFRIC 21 IMPACT International Retail Banking Global Banking and Investor French Retail Banking Corporate Centre Group and Financial Services Solutions In EUR m 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Total IFRIC 21 Impact - costs -157 -132 -95 -96 -499 -428 -44 -51
Slide 42: CRR2/CRD5 prudential capital ratios
GROUP CRR2/CRD5 PRUDENTIAL CAPITAL RATIOS _Phased-in Common Equity Tier 1, Tier 1 and Total Capital In EURbn 31.12.2021 31.12.2020 Shareholder equity Group share 65.1 61.7 Deeply subordinated notes* (8.0) (8.8) Undated subordinated notes* 0.0 (0.3) Dividend to be paid & interest on subordinated note
Slide 43: CRR2 leverage ratio
GROUP CRR2 LEVERAGE RATIO _CRR2 phased-in Leverage Ratio(1) In EURbn 31.12.2021 31.12.2020 Tier 1 Capital 57.9 56.2 (2) Total prudential balance sheet 1,300 1,292 Adjustments related to derivative financial instruments 9 (60) (3) Adjustments related to securities financing transactions 15 6 Off-bala
Slide 44: TLAC / MREL
GROUP TLAC / MREL _Phased-in Q4 21 TLAC ratios _Phased-in Q4 21 MREL ratios Meeting 2021 and 2022 requirements Meeting 2021 and 2022 requirements(2) % RWA (1) % RWA (2) 1.9% SP SP SNP T2 (*) % Leverage % Leverage(2) 25.2% SNP 9.4% 21.5% AT1 T2 (*) 9.4% 19.5% CET 1 AT1 9.5% 3.9% CET 1 3.9% 2.2% 29.2%
Slide 45: Risk-weighted assets
GROUP RISK-WEIGHTED ASSETS* (CRR2/CRD5, IN EUR BN) Total Operational Market Credit * Phased-in Risk-Weighted Asset including IFRS 9 phasing. Includes the entities reported under IFRS 5 until disposal 4TH QUARTER AND FULL YEAR 2021 RESULTS 10 FEBRUARY 2022 45
Slide 46: Geographic breakdown of SG Group commitments at 31.12.2021
GROUP - GEOGRAPHIC BREAKDOWN OF SG GROUP COMMITMENTS AT 31.12.2021 _On-and off-balance sheet EAD* All customers included: EUR 1,079bn Africa and Others 0% Latin America 1% Middle East 4% Asia Pacific 5% Eastern Europe (excl. EU)2% Eastern Europe (EU) 7% France 46% North America 14% Western Europe 21
Slide 47: Diversified exposure to Russia
DIVERSIFIED EXPOSURE TO RUSSIA _Exposure at Default as of 31 December 2021: EUR 18bn (< 2% total Group) Sovereigns 21% Other 2% Consumer 36% 20% Retail Financial 4% Institutions Mortgages Car loans 56% 22% 39% Corporates* * Including Offshore ; of which >85% Tier 1 Corporates 4TH QUARTER AND FULL YE
Slide 48: Change in gross book outstandings
GROUP CHANGE IN GROSS BOOK OUTSTANDINGS* _End of period in EUR bn Total 573.0 553.9 529.4 530.2 538.8 527.7 518.6 520.8 507.1 188.9 Global Banking and Investor Solutions 178.1 162.4 162.2 167.4 175.7 147.5 154.7 158.1 International Banking and Financial Services 134.2 141.7 145.3 135.7 135.5 136.7 1
Slide 49: Cost of risk
GROUP COST OF RISK In EUR m Q4 21 Q4 20 2021 2020 Net Cost Of Risk (20) 276 104 1,097 French Retail Banking Gross loan Outstandings 219,522 222,926 218,043 212,185 Cost of Risk in bp (4) 50 5 52 Net Cost Of Risk 96 287 504 1,265 International Retail Banking and Gross loan Outstandings 137,018 128,96
Slide 50: Asset quality
GROUP ASSET QUALITY In EUR bn 31.12.2021 30.09.2021 31.12.2020 Performing loans 543. 9 532. 3 496. 5 (1) inc. Stage 1 book outstandings 479. 9 468. 7 424.0 inc. Stage 2 book outstandings 43. 5 42. 5 49. 9 Non-performing loans 16. 5 16. 9 17. 0 inc. Stage 3 book outstandings 16. 5 16. 9 17. 0 Total G
Slide 51: Focus on exposures
FOCUS ON EXPOSURES CORPORATE PORTFOLIO BREAKDOWN EXPOSURE TO SENSITIVE SECTORS CORPORATE EAD(1) IN EACH SECTOR IN % OF TOTAL GROUP EAD AT 31.12.2021 ACCOMMODATION*: 0.3% of total Group EAD Total Group EAD: EUR 1,079BN CATERING*: 0.3% of total Group EAD Finance & Insurance 7.1% Business services 3.4%
Slide 52: IFRS 9 monitoring
IFRS 9 MONITORING METHODOLOGY APPLIED As of Q4 21, IFRS 9 parameters were updated in order to keep a prudent approach: • Updated 4 macroeconomic scenarios, maintaining the conservative adjustments made to take into account both the delay in defaults and the massive State support in the major countri
Slide 53: Change in trading VaR and stressed VaR
GROUP CHANGE IN TRADING VAR* AND STRESSED VAR** _Quarterly Average of 1-Day, 99% Trading VaR* (in EUR m) 40 34 28 26 30 22 15 15 10 43 __ Trading VaR* 33 Credit 23 18 Interest Rates 20 16 Equity 28 19 21 14 10 11 19 Forex 7 7 13 Commodities 13 10 19 19 20 20 20 17 Compensation Effect 12 10 8 2 3 3 3
Slide 54: Long term funding programme
LONG TERM FUNDING PROGRAMME 2021 COMPLETED, 2022 ALREADY WELL ADVANCED 2022 EXPECTED LONG TERM FUNDING PROGRAMME : c.EUR 20bn (1) EUR 35.3 bn raised for 2021 programme (incl. EUR 3.9bn of pre-funding raised in 2020) (of which c.50% completed as of 27 January 2022(2)) o/w: - c. EUR 15.4bn of vanilla
Slide 55: Liquid asset buffer
GROUP LIQUID ASSET BUFFER _Liquid Asset Buffer (in EURbn) 243 237 227 227 229 154 163 147 161 168 Central Bank Deposits(1) High Quality Liquid 82 Asset Securities(2) 73 80 64 58 7 2 2 3 Central Bank Eligible Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Assets(2) Liquidity Coverage Ratio at 131% on average in Q4 21
Slide 56: EPS calculation
GROUP EPS CALCULATION Average number of shares (thousands) – in EURm 2021 2020 2019 Existing shares 853,371 853,371 834,062 Deductions Shares allocated to cover stock option plans and free shares awarded to 3,861 2,987 4,011 staff Other own shares and treasury shares 3,249 - 149 Number of shares use
Slide 57: Net asset value, tangible net asset value
GROUP NET ASSET VALUE, TANGIBLE NET ASSET VALUE End of period – in EURm 2021 2020 2019 Shareholders' equity Group share* 65,067 61,710 63,527 Deeply subordinated notes (8,003) (8,830) (9,501) Undated subordinated notes - (264) (283) Interest, net of tax, payable to holders of deeply subordinated not
Slide 58: ROE/ROTE calculation detail
GROUP ROE/ROTE CALCULATION DETAIL End of period - in EURm Q4 21 Q4 20 2021 2020 Shareholders' equity Group share* 65,067 61,710 65,067 61,710 Deeply subordinated notes (8,003) (8,830) (8,003) (8,830) Undated subordinated notes (264) (264) Interest net of tax payable to holders of deeply subordinated
Slide 59: French Retail Banking: net banking income
FRENCH RETAIL BANKING NET BANKING INCOME _Change _NBI, in EURm Q4 21 vs. Q4 20 1,845 1,847 1,906 1,976 +11.0% 2,048 Fees(2) Commissions(2) +5.1% vs. 2020 897 Other Income (2) 877 +5.0% 855 866 856 57 89 +124.8% Net Interest Margin(1)(2) 39 50 66 Net interest margin(1)(2) +2.1% vs. 2020 PEL/CEL 967 1
Slide 60: French Retail Banking: customer deposits and financial savings
FRENCH RETAIL BANKING CUSTOMER DEPOSITS AND FINANCIAL SAVINGS _Change Q4 21 vs. Q4 20 _Average outstandings, in EURbn 349 354 362 369 373 +6.8% Life Insurance Financial Savings +6.7% 98 100 EUR 111.2bn 96 98 94 Mutual Funds +4.5% Q4 21 vs. Q4 20 11 11 -11.3% 12 11 12 Deposits 143 148 151 +7.1% Sight
Slide 61: French Retail Banking: loans outstanding
FRENCH RETAIL BANKING LOANS OUTSTANDING _Change _Average outstandings, net of provisions in EURbn Q4 21 vs. Q4 20 223 221 220 220 224 +0.3% 1 224 1 223 1 110 111 112 113 116 +4.7% 1 222 1 Housing 1 221 13 12 12 12 13 -0.9% 0 220 0 -4.3% Consumer Credit and Overdraft 99 97 96 94 95 0 219 0 0.2 0.2 0.
Slide 62: IBFS quarterly results
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES QUARTERLY RESULTS International Retail Banking Insurance Financial Services to Corporates Total In EUR m Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Net banking income 1,311 1,236 +3.5%* 243 224 +8.1%* 605 459 +30.6%
Slide 63: IBFS 2021 results
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES 2021 RESULTS International Retail Banking Insurance Financial Services to Corporates Total In EUR m 2021 2020 Change 2021 2020 Change 2021 2020 Change 2021 2020 Change Net banking income 5,000 4,902 +2.8%* 963 887 +8.6%* 2,154 1,735 +32.0%* 8,117 7
Slide 64: International Retail Banking: breakdown by region, quarterly results
INTERNATIONAL RETAIL BANKING BREAKDOWN BY REGION - QUARTERLY RESULTS Western Europe Czech Republic Romania Russia(1) Africa, Asia, Mediterranean Total International Retail bassin and Overseas Banking In EUR m Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Cha
Slide 65: International Retail Banking: 2021 results
INTERNATIONAL RETAIL BANKING 2021 RESULTS Western Europe Czech Republic Romania Russia (1) Africa, Asia, Mediterranean Total International Retail bassin and Overseas Banking In EUR m 2021 2020 Change 2021 2020 Change 2021 2020 Change 2021 2020 Change 2021 2020 Change 2021 2020 Change Net banking inc
Slide 66: Breakdown of loans and deposits outstanding
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES BREAKDOWN OF LOANS AND DEPOSITS OUTSTANDING _Breakdown of Loans Outstanding (in EURbn) _Breakdown of Deposits Outstanding (in EURbn) _Change _Change Dec 21 vs. Dec 20 Dec 21 vs. Dec 20 14.7 +1.1%* 14.1 Equipment 93.6 Finance(1) +4.5%* +6.0%* 1.1 85
Slide 67: Presence in Africa
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES PRESENCE IN AFRICA Clients NBI Net income C/I RWA 4m EUR 1.5bn EUR 185m 62% EUR 23bn NB I RWA Credits Deposits L/ D Ratio Ranking ( 1) 2021 ( in EUR m ) ( in EUR m ) ( in EUR m ) ( in EUR m ) Morocco 455 8,371 8,369 7,374 114% 5th Algeria 138 1,641
Slide 68: SG Russia
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES SG RUSSIA(1) _SG Russia Results In EUR m Q4 21 Q4 20 Change 2021 2020 Change Net banking income 189 185 -7.0%* 727 793 -2.8%* Operating expenses (137) (119) +6.3%* (487) (499) +3.3%* Gross operating income 52 66 -30% 240 294 -13.2%* Net cost of ris
Slide 69: Insurance key figures
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES INSURANCE KEY FIGURES _Life Insurance Outstandings _Personal Protection Insurance Premiums (in EURm) and Unit Linked Breakdown (in EURbn) Change 350 Q4 21 / Q4 20 125.6 128.1 130.6 131.8 135.2 300 100% +3.0%* 1% Unit Linked 266 273 276 277 250 32%
Slide 70: GBIS quarterly results
GLOBAL BANKING AND INVESTOR SOLUTIONS QUARTERLY RESULTS Global Markets and Investor Asset and Wealth Total Global Banking and Investor Financing and Advisory Services Management Solutions In EUR m Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Q4 21 Q4 20 Change Net banking income 1,260 1,
Slide 71: GBIS 2021 results
GLOBAL BANKING AND INVESTOR SOLUTIONS 2021 RESULTS Global Markets and Investor Asset and Wealth Total Global Banking and Investor Financing and Advisory Services Management Solutions In EUR m 2021 2020 Change 2021 2020 Change 2021 2020 Change 2021 2020 Change Net banking income 5,648 4,164 +36.9%* 2
Slide 72: GBIS risk-weighted assets
GLOBAL BANKING AND INVESTOR SOLUTIONS RISK-WEIGHTED ASSETS _Global Markets and Investor Services (in EURbn) Operational _Financing and Advisory (in EURbn) Market _Asset and Wealth Management (in EURbn) Credit 4TH QUARTER AND FULL YEAR 2021 RESULTS 10 FEBRUARY 2022 72
Slide 73: GBIS revenues
GLOBAL BANKING AND INVESTOR SOLUTIONS REVENUES _Global Markets and Investor Services Revenues (in EURm) _Asset and Wealth Management Revenues (in EURm) Securities 5 5 4 7 4 Others 175 Services 64 71 160 64 47 57 155 625 157 153 470 380 Fixed Income and Lyxor 376 414 Currencies 162 173 171 184 171 85
Slide 74: GBIS key figures
GLOBAL BANKING AND INVESTOR SOLUTIONS KEY FIGURES _Private Banking: Assets under Management (in EURbn) _Lyxor: Assets under Management (in EURbn) 116 121 126 127 130 154 165 169 178 140 Q4 20 Q1 20 Q2 21 Q3 21 Q4 21 Q4 20 Q1 20 Q2 21 Q3 21 Q4 21 _Securities Services: Assets under Custody (in EURbn)
Slide 75: Recognised expertise: league tables, rankings, awards
GLOBAL BANKING AND INVESTOR SOLUTIONS RECOGNISED EXPERTISE: LEAGUE TABLES - RANKINGS - AWARDS AWARDS LEAGUE TABLES AND RANKINGS GLOBAL BANKING & ADVISORY GLOBAL MARKETS WEALTH MANAGEMENT LISTED PRODUCTS ZERTIFIKATE AWARDS 2021/2022 – GERMANY PROJECT FINANCE ENERGY RISK GLOBAL PRIVATE INTERNATIONAL A
Slide 76: Financing & Advisory: supporting clients in their transformations
FINANCING & ADVISORY SUPPORTING CLIENTS IN THEIR TRANSFORMATIONS CLIENT PROXIMITY FAURECIA EUR 6.7bn cross-border acquisition– First financial partner to INNOVATION Financial&Rating advisor, Underwriter, Co Global Faurecia on the Hella acquisition, initial bond takeout and Coordinator, Sustainabilit
Slide 77: Methodology (1/2)
METHODOLOGY (1/2) 1 – Net banking income The pillars’ net banking income is defined on page 41 of Societe Generale’s 2021 Universal Registration Document. The terms “Revenues” or “Net Banking Income” are used interchangeably. They provide a normalised measure of each pillar’s net banking income taki
Slide 78: Methodology (2/2)
METHODOLOGY (2/2) 6 – ROE, RONE, ROTE The notion of ROE (Return On Equity) and ROTE (Return On Tangible Equity), as well as the methodology for calculating it, are specified on pages 43 and 44 of Societe Generale’s 2021 Universal Registration Document. This measure makes it possible to assess return