Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Debt Investor Presentation (October 2024)
78 slides from Societe Generale S.a. Class A's debt investor presentation, October 2024
Slide 1: Presentation to debt investors: Q3 and nine-month 2024 results
Societe Generale Presentation to debt investors Third quarter and nine-month 2024 results
Slide 2: Disclaimer
Disclaimer The financial information on Societe Generale for its third management or not currently considered material, and there forecasts) and our own internal estimates. We have not quarter and nine-month 2024 financial results comprises this can be no assurance that anticipated events will occur
Slide 3: Strong results driven by solid business performance
Strong results driven by solid business performance Income Balance Sheet Main highlights Statement and Capital Revenues Strategic plan fully on track CET1 EUR 6.8bn in Q3 24 13.2%(1) at end Q3 24 . Capital build-up ahead of CMD trajectory EUR 20.2bn in 9M 24 . Continuous improvement in efficiency an
Slide 4: Capital build-up ahead of trajectory
Capital build-up ahead of trajectory CET1(1) building blocks since CMD CET1(1) CMD trajectory +115bps -56bps -5bps +2bps -37bps +11bps -16bps 13.2% >13% ≥13% 13.1% ~13% >12% >10bps of quarterly organic capital M&A impacts expected in Disciplined RWA generation post Q4 24 (~15bps) and 2025 allocation
Slide 5: Continued improvement in efficiency and profitability
Continued improvement in efficiency and profitability Growing revenues and greater efficiency Creating long-term value 6,837 6,671 6,685 6,645 78.3% 75.8% Tangible Net Asset Value per share in EUR 6,287 6,189 74.9% 5,957 70.6% 70.4% 63.3% 64.6 68.4% Q4 23 Q1 24 Q2 24 Q3 24 63.6 Q1 23 Q2 23 Q3 23 (CM
Slide 6: Reshaping of the business portfolio well underway
Reshaping of the business portfolio well underway Proactive and efficient portfolio management Agreements for the sale of Congo, Agreements for the sale of Agreement for the sale of Agreement for the sale of Equatorial Guinea, Mauritania and Chad Closing of Chad sale Société Générale Marocaine de So
Slide 7: Acceleration of our ESG ambitions
Acceleration of our ESG ambitions Execution of our roadmap New sustainable finance target between 2024 and 2030 Decarbonisation of our businesses(1) > 50% Oil & Gas upstream exposure reduction(2) at Q2 24 vs. 2019 EUR EUR 300bn sustainable finance target achieved 500bn 2024-2030 Delivered ahead of s
Slide 8: 1. Group performance
1. Group performance SOCIETE GENERALE
Slide 9: Double-digit growth in gross operating income
Double-digit growth in gross operating income Gross Operating Income(1) Strong positive jaws(1) Cost / Income ratio(1) (in EURm) (in %) (in %) +18.9% 6,290 Q3 24 vs. Q3 23 9M 24 vs. 9M 23 72.4% 5,289 variation (%) variation (%) +37.3% <71% 70.4% 68.8% 2,511 +10.5% 63.3% 1,829 +5.3% -0.8% +0.1% Q3 23
Slide 10: Stable cost of risk with lower S3 provisions
Stable cost of risk with lower S3 provisions Cost of risk(1) Total S1/S2 provisions(2) (in EURm) In bps In EURm 3,622 3,769 3,572 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 9M 23 9M 24 3,355 3,178(3) 3,122(3) Group 21 24 27 26 27 15 27 2,282 2,379 2,304 2,503 1,987 2,067 2,040 French Retail, Private Banking 1,23
Slide 11: Regulatory ratios
Regulatory ratios Comfortably above minimum requirements End Q3 24 ratios Requirements(1) Phased in Fully loaded CET1 10.22%⁽²⁾⁽³⁾ 13.2% 13.2% Total Capital 14.7% 18.2% 18.2% Leverage ratio 3.6% 4.25% 4.24% TLAC (%RWA) 22.3%⁽³⁾ 27.8% 27.7% TLAC (%leverage) 6.75% 7.6% 7.6% MREL (%RWA) 27.6%⁽³⁾ 32.2%
Slide 12: Strong capital
Strong capital Change in CET1 ratio(1) (in bps) Risk-weighted assets (in EURbn) 384 389 392 +35bps -19bps -12bps +5bps -2bps 13.2% 13.1% +2bps IFRS 9 +2bps phasing Q3 23 Q2 24 Q3 24 Main regulatory ratios Requirements Ratios(1) CET1 10.22% 13.2% Q2 24 Capital Distributable Business ESOP(3) Other Q3
Slide 13: TLAC and MREL ratios
Group TLAC and MREL ratios TLAC Q3 24 ratios MREL Q3 24 ratios % RWA EUR bn % Leverage % RWA EUR bn % Leverage 27.8% EUR 109bn SP SNP 32.2% EUR 126bn T2 ⁽¹⁾ 22.3% 9.2% 36 AT1 4.4% 17 27.6% SP CET1 SNP 9.2% 36 T2 ⁽¹⁾ 3.0% 12 AT1 2.4% 9 EUR 109bn 3.0% 12 CET1 o.w. 2.4% 9 EUR 109bn 8.8% 7.6% junior deb
Slide 14: Long term funding program
Long term funding program 2024 vanilla long-term funding program completed 2024 vanilla funding program fully completed, with c. Revised program Issued* EUR 17.5bn of vanilla notes (incl. c.EUR 6.4bn of pre- (in EURbn) (in EURbn) funding raised in 2023), of which: Secured notes ~3 ~ 2.9 EUR 2.9bn
Slide 15: Liquidity profile and deposit base
Liquidity profile and deposit base Robust balance sheet(1) Diversified deposit base Funded balance sheet(2) in EURbn as of Q3 24 In EURbn as of Q3 24 948 965 965 948 Net deposits in 62 Short term wholesale funding 190 French retail central banks Mobility, International Retail Banking & Financial Ser
Slide 16: Solid funding structure
Solid funding structure Loan to Deposit Ratio (1) Robust balance sheet Loan to deposit ratio of 75% High quality liquid asset buffers Comfortable LCR at 156% on average in Q3 24 NSFR at 116% above regulatory requirements (118% in Q2-24) Liquid asset buffer of EUR 322bn at end-Q3 24 Liquid Asset Buff
Slide 17: Group results
Group results In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change Net banking income 6,837 6,189 +10.5% +11.8%* 20,167 19,147 +5.3% +6.5%* Operating expenses (4,327) (4,360) -0.8% -0.3%* (13,877) (13,858) +0.1% +0.5%* Gross operating income 2,511 1,829 +37.3% +41.0%* 6,290 5,289 +18.9% +22.4%* Net cost of
Slide 18: 2. Business performance
2. Business performance SOCIETE GENERALE
Slide 19: French Retail, Private Banking and Insurance results
French Retail, Private Banking and Insurance results Revenues +19% vs. Q3 23, +6% vs. Q2 24 NII excl. PEL/CEL +43% vs. Q3 23, +19% vs. Q2 24 In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change Net banking income 2,254 1,900 +18.7% 6,390 6,090 +4.9% Fees +5% vs. Q3 23 Net banking income excl. PEL/CEL 2,259
Slide 20: SG network, Private Banking and Insurance
SG network, Private Banking and Insurance Loans and deposits outstanding of SG network -5% -1% Av. loans outstanding vs. Q3 23 Av. deposits outstanding vs. Q3 23 Stable corporate loans outstanding (excl. PGE) vs. Q3 23, In EURbn In EURbn increasing medium and long-term corporate loans vs. Q2 24 238
Slide 21: Net interest income up +43% vs. last year
Net interest income up +43% vs. last year Loans and deposits outstanding Net interest income French Retail loans and deposits outstanding(1) 2023 -2024 Net interest income(2) Deposit mix (in EURbn) Loans outstanding (in EURbn) In EURm ~EUR 3.8bn 3,195 1,062 299 295 302 893 846 808 797 823 744 237 23
Slide 22: BoursoBank
BoursoBank +310k +27% New client onboarding in Q3 24 Total clients vs. Q3 23 Client activity In ′000 In m Efficient steering of onboarding pace in line with the 7m clients 6.8 end-of-year objective 412 5.4 365 4.3 +310k new clients in Q3 24, +1.4m clients in 12 months 310 An active, loyal and high-q
Slide 23: Global Banking and Investor Solutions
Global Banking and Investor Solutions Revenues +5% vs. Q3 23 Global Markets and Investor Services +8% vs. Q3 23 In EUR m Q3 24 Q3 23 Variation 9M 24 9M 23 Change Financing and Advisory stable vs. Q3 23 Net banking income 2,422 2,309 +4.9% +5.2%* 7,666 7,457 +2.8% +2.8%* Operating expenses (1,494) (1
Slide 24: Global Markets and Investor Services
Global Markets and Investor Services Revenues: +8% vs. Q3 23 Global Markets revenues +9% vs. Q3 23 Q3 24 Global Markets revenues(1) 9M 24 Global Markets revenues(1) (EURm) (EURm) Equities +10% vs. Q3 23 1,410 4,606 4,553 Second best third quarter ever 1,319 1,299 4,357 Growing client activity in lis
Slide 25: Financing and Advisory
Financing and Advisory Stable revenues vs. Q3 23 Q3 24 F&A revenues(1) 9M 24 F&A revenues(1) (EURm) (EURm) Global Banking and Advisory -3% vs. Q3 23 2,544 2,602 2,469 Another solid quarter in securitised products and strong 837 843 843 momentum in distribution Good performance in financing vs. a hig
Slide 26: Mobility, International Retail Banking and Financial Services
Mobility, International Retail Banking and Financial Services Revenues -5% vs. Q3 23, -2% vs. Q2 24 International Retail Banking +1% vs. Q3 23 Mobility and Financial Services -11% vs. Q3 23 In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change Net banking income 2,108 2,228 -5.4% -2.8%* 6,403 6,491 -1.4% +1
Slide 27: International Retail Banking
International Retail Banking +3% +2% Europe Loans outstanding vs. Q3 23 Deposits outstanding vs. Q3 23 Strong business momentum across countries and segments In EURbn In EURbn . Loans growth (+6%* vs. Q3 23) notably driven by mortgages and mid 42.7 55.4 55.2 and long-term corporates loans in a lower
Slide 28: Mobility and Financial Services
Mobility and Financial Services Revenues: -11% vs. Q3 23 Q3 24 M&FS revenues 9M 24 M&FS revenues Ayvens revenues -15% vs. Q3 23, -4% excl. non-recurring items(1) (EURm) (EURm) Stable margin revenues vs. Q3 23 at ~EUR 690m(1) Ongoing normalisation of UCS results per unit at EUR 1,420(1) 1,184 in Q3 2
Slide 29: Corporate Centre
Corporate Centre Revenues In EURm Q3 24 Q3 23 Change 9M 24 9M 23 Change Net banking income 54 (249) n/s n/s (291) (891) +67.3% +67.8%* ~EUR 0.3bn exceptional proceeds received(1) Operating expenses (27) (35) -22.8% -25.8%* (185) (119) +55.2% +48.2%* Gross operating income 27 (283) n/s n/s (476) (1,0
Slide 30: 3. Conclusion
3. Conclusion SOCIETE GENERALE
Slide 31: On track towards financial targets
On track towards financial targets 2024 2026 2023 Q1 24 Q2 24 Q3 24 9M 24 TARGETS TARGETS ≥+5% REVENUES REVENUES -8% -0.4% +6.3% +10.5%(1) +5.3%(1) vs. 2023 0%-2% vs. 2022 vs. Q1 23 vs. Q2 23 vs. Q3 23 vs. 9M 23 i.e. ~-1.5% CAGR2022-2026 CAGR 2022-2024 COST / INCOME RATIO 73.8% 74.9% 68.4% 63.3%(1)
Slide 32: 4. Supplement
4. Supplement SOCIETE GENERALE
Slide 33: Group long-term funding breakdown
Group long-term funding breakdown(1) Breakdown as of 30.09.2024 Access to diversified and complementary investor bases through: Subordinated issuances Senior vanilla issuances (public or private placements) Senior structured notes distributed to institutional investors, private banks and retail netw
Slide 34: Credit rating overview
Credit rating overview Credit Ratings as of October 2024 Fitch Moody’s S&P LT/ST Key strengths recognized by all rating agencies A(dcr) A1(cr)/P-1(cr) A/A-1 Counterparty S&P: “Globally systemic universal bank with well-diversified revenue by business lines and geographies […] Comfortable bail-inable
Slide 35: Key ESG targets
Key ESG targets Focused on fossil fuel financing reduction Engaging our business ‒ Oil & Gas: -80% upstream exposure reduction by 2030 vs. 2019, EUR 500bn to support sustainable finance 2024 – 2030: with an intermediary step of -50% in 2025 vs. 2019 - o/w EUR 400bn financing and EUR 100bn bonds ‒ Th
Slide 36: NZBA portfolio alignment targets (1/2)
NZBA portfolio alignment targets (1/2) Societe Generale’s alignment targets are presented in more detail in its NZBA report, July 2024: https://www.societegenerale.com/sites/default/files/documents/CSR/nzba-progress-report-2024.pdf EMISSIONS SECTOR BOUNDARY METRICS SCOPE SCENARIO BASELINE & TARGET O
Slide 37: NZBA portfolio alignment targets (2/2)
NZBA portfolio alignment targets (2/2) EMISSIONS SECTOR & SCOPE METRICS SCENARIO BASELINE & TARGET SCOPE 671 678 Cement KgCO2e/tcement 535 463 -20% LIMESTONE MANUFACTURING CONCRETES CONSTRUCTION IEA’s NZE2050 QUARRYING INDUSTRY kgCO2e/t cement(1) Scopes 1 & 2 scenario 2022 2023 2030 IEA 2030 Steel 0
Slide 38: External recognition in ESG
External recognition in ESG AGENCIES WORST SCORE BEST AWARDS Sector average SG Bank of the Year for CCC B BB BBB A AA AAA Sustainability for the 2nd Sector time by IFR average SG 60+ 50 40 30 20 Low 0 World’s Best Bank for Risk 19.6 Sustainable Finance for the Sector 3rd time by Global Finance avera
Slide 39: Exceptional items
Exceptional items In EURm Q3 24 Q3 23 9M 24 9M 23 Net Banking Income - Total exceptional items 287 0 287 (240) One-off legacy items - Corporate Centre 0 0 0 (240) Exceptional proceeds received - Corporate Centre 287 0 287 0 Operating expenses - Total one-off items and transformation charges (62) (14
Slide 40: Q3 income statement by core business
Group Q3 24 income statement by core business French Retail, Private Banking Global Banking and Investor Mobility, International Retail Corporate Centre Group and Insurance Solutions Banking & Financial Services In EURm Q3 24 Q3 23 Q3 24 Q3 23 Q3 24 Q3 23 Q3 24 Q3 23 Q3 24 Q3 23 Net banking income 2
Slide 41: 9M income statement by core business
Group 9M 24 income statement by core business French Retail, Private Banking Global Banking and Investor Mobility, International Retail Corporate Centre Group and Insurance Solutions Banking & Financial Services In EURm 9M 24 9M 23 9M 24 9M 23 9M 24 9M 23 9M 24 9M 23 9M 24 9M 23 Net banking income 6
Slide 42: IFRIC impact
Group IFRIC 21 impact Total IFRIC 21 Impact o/w Resolution Funds - costs In EURm 9M 24 9M 23 9M 24 9M 23 French Retail, Private Banking and Insurance (47) (167) 0 (112) Global Banking and Investor Solutions (106) (581) 0 (481) Global Markets and Investor Services (85) (421) 0 (357) Financing and Adv
Slide 43: CRR2/CRD5 prudential capital ratios
Group CRR2/CRD5 prudential capital ratios Phased-in Common Equity Tier 1, Tier 1 and Total Capital In EURbn 30.09.2024 31.12.2023 Shareholder equity Group share 67.4 66.0 Deeply subordinated notes(1) (9.0) (9.1) (2) Distribution to be paid & interest on subordinated notes (1.5) (1.1) Goodwill and in
Slide 44: CRR2 leverage ratio
Group CRR2 leverage ratio CRR2 phased-in Leverage Ratio(1) In EURbn 30.09.2024 31.12.2023 Tier 1 Capital 61.0 60.5 (2) Total prudential balance sheet 1,410 1,397 Adjustments related to derivative financial instruments (6) 0 (3) Adjustments related to securities financing transactions 15 14 Off-balan
Slide 45: Risk-weighted assets
Group Risk-weighted assets(1) (CRR2/CRD5, in EUR bn) 392.3 388.5 384.2 50.7 50.5 48.7 128.0 129.2 129.4 11.0 120.3 120.0 120.8 11.3 117.5 118.1 7.6 7.7 119.4 11.3 7.3 5.1 5.2 5.2 0.3 0.3 0.2 0.0 0.0 0.0 29.0 29.8 29.8 Total 10.4 10.1 9.4 Operational Market 326.8 330.6 120.5 121.4 121.5 324.2 112.4 1
Slide 46: Geographic breakdown of Group commitments
Group Geographic breakdown of SG Group commitment at 30.09.2024 On-and off-balance sheet EAD(1) All customers included: EUR 1,133bn Africa and Middle Latin America and East 3% Caribbean 1% Asia Pacific 6% Eastern Europe (EU) 8% France 42% North America 16% Western Europe (excl. France) 24% (1) Total
Slide 47: Change in gross book outstandings
Group Change in gross book outstandings(1) End of period in EURbn 594.7 597.0 597.8 Total 586.1 592.0 572.4 568.5 566.6 557.6 138.1 139.3 163.5 164.3 137.8 166.7 141.9 142.7 141.1 Mobility, International Retail Banking & Financial Services Global Banking and Investor Solutions 190.1 182.9 170.7 171.
Slide 48: Cost of risk
Group Cost of risk In EURm Q3 24 Q3 23 9M 24 9M 23 Net Cost Of Risk 178 144 597 342 French Retail, Private Banking and Gross loan Outstandings 234,420 243,740 236,286 248,757 Insurance Cost of Risk in bp 30 24 34 18 Net Cost Of Risk 27 14 29 (8) Global Banking and Investor Solutions Gross loan Outst
Slide 49: Non-performing loans
Group Non-performing loans In EUR bn 30.09.2024 30.06.2024 30.09.2023 Performing loans 495.5 499.9 543.1 inc. Stage 1 book outstandings ⁽¹⁾ 447.1 450.2 489.4 inc. Stage 2 book outstandings 34.4 36.0 38.3 Non-performing loans 15.1 15.6 16.4 inc. Stage 3 book outstandings 15.1 15.6 16.4 Total Gross bo
Slide 50: Sovereign exposure by geography
Sovereign exposure by geography Bank i ng b ook Trad i ng b ook o/w Financial assets o/w Financial assets at FV o/w Financial assets at FV F i nanci al asse t s at F V Tot al Tot al at amortised cost through OCI through P&L t hrough P &L (A + B) (A) o/w Central (B) In EUR bn, as of 30 September 2024
Slide 51: Limited and sound commercial real estate exposure
Limited and sound commercial real estate exposure Diversified exposure European portfolio US portfolio Commercial real estate gross exposure by geography (%) European commercial real estate gross exposure by asset class (%) US commercial real estate gross exposure by asset class (%) 5%1% France Offi
Slide 52: Residual Russian exposure
Residual Russian exposure Limited Russian exposure Offshore Exposure breakdown Offshore portfolio reduced by more than -80% Corporate gross exposure by type as of 30 September 24 Evolution of exposure at default (EUR bn) 13% 3.2 2.6 13% ECA-backed 1.8 1.6 Pre-export Finance 1.0 0.9 0.7 0.6 0.6 74% T
Slide 53: Focus on exposures
Focus on exposures Corporate portfolio breakdown Most sensitive exposures Corporate EAD(1) in each sector(2) in % of total group EAD at 30.09.2024 Total group EAD: EUR 1,133bn COMMERCIAL REAL ESTATE: ~2% of total Group EAD Financial services 6.7% Utilities 2.8% Real Estate 2.6% CONSTRUCTION: ~1.3% o
Slide 54: IFRS 9 expected credit loss monitoring
IFRS 9 expected credit loss monitoring METHODOLOGY APPLIED As of Q3 24, IFRS 9 parameters were updated in order to take into account the current economic environment: • 3 macroeconomic scenarios were retained to capture the uncertainties around the general economic context and the war in Ukraine: ce
Slide 55: Change in trading VaR and stressed VaR
Group Change in trading VaR(1) and stressed VaR(2) Quarterly Average of 1-Day, 99% Trading VaR(1) (in EURm) 24 25 27 24 24 18 17 18 16 23 18 18 21 15 12 __ Trading VaR(1) 14 9 10 Credit 18 17 15 14 17 Interest Rates 15 10 8 9 Equity 11 12 14 14 13 14 Forex 9 11 12 3 2 Commodities 2 2 2 2 2 1 1 1 1 1
Slide 56: Liquid asset buffer
Group Liquid asset buffer Liquid Asset Buffer (in EURbn) 326 322 Strong liquidity reserves further strengthened 309 316 316 33 (+EUR 13bn vs. Q3 23) 28 28 40 27 55 74 81 . Significant part of cash at Central Banks 81 97 (EUR 185bn as of Q3 24 vs. EUR 227bn as of Q3 23) . HQLA (EUR 97bn net of haircu
Slide 57: EPS calculation
Group EPS calculation Average number of shares (thousands) 9M 24 H1 24 2023 Existing shares 802,314 802,980 818,008 Deductions Shares allocated to cover stock option plans and free shares awarded to staff 4,548 4,791 6,802 Other own shares and treasury shares 2,930 3,907 11,891 (1) Number of shares
Slide 58: Net asset value, tangible net asset value
Group Net asset value, tangible net asset value End of period (in EURm) 9M 24 H1 24 2023 Shareholders' equity Group share 67,446 66,829 65,975 Deeply subordinated and undated subordinated notes (8,955) (9,747) (9,095) Interest payable to holders of deeply & undated subordinated notes, issue premium
Slide 59: ROE/ROTE calculation detail
Group ROE/ROTE calculation detail End of period (in EURm) Q3 24 Q3 23 9M 24 9M 23 Shareholders' equity Group share 67,446 68,077 67,446 68,077 Deeply subordinated and undated subordinated notes (8,955) (11,054) (8,955) (11,054) (1) Interest payable to holders of deeply & undated subordinated notes,
Slide 60: French Retail, Private Banking and Insurance: Q3 and 9M results
French Retail, Private Banking and Insurance Q3 24 and 9M 24 results French Retail, Private Banking French Retail, Private Banking O.w Insurance O.w Insurance and Insurance and Insurance In EURm Q3 24 Q3 23 Change Q3 24 Q3 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change Net banking income 2,254 1,90
Slide 61: French Retail, Private Banking and Insurance: Net banking income
French Retail, Private Banking and Insurance Net banking income NBI (in EURm) 2,254 2,125 166 2,010 +18.7% Commissions 1,963 173 1,900 166 149 142 #REF! vs. Q3 23 Insurance Revenues 1,034 1,027 948 1,018 +8.9% Fees 985 -116.8% Net Interest Margin 1,062 +42.8% 797 893 Other Income 744 823 +16.4% 22 6
Slide 62: Customer deposits and financial savings
French Retail, Private Banking and Insurance Customer deposits and financial savings Average outstandings (in EURbn) 475 480 461 462 467 143 145 Life Insurance (1) 132 136 141 Securities, Mutual Funds and Other 29 31 31 33 33 Sight Deposits PEL 133 133 133 146 138 Passbook deposits Regulated Savings
Slide 63: Loans outstanding
French Retail, Private Banking and Insurance Loans outstanding Average outstandings, net of provisions (in EURbn) 237 234 231 229 228 -4.1% 122 120 119 118 117 -4.1% Housing 16 15 15 14 14 Consumer Credit -11.2% and Overdraft Business 99 99 98 97 96 Customers(1) and -2.9% Financial Institutions 0.2
Slide 64: Insurance key figures
French Retail, Private Banking and Insurance Insurance key figures Life Insurance Outstandings Personal Protection Insurance Premiums (in EURm) and Unit Linked Breakdown (in EURbn) 144.9 160 140.5 142.9 140 131.8 136.2 350 300 39% 40% 120 38% 39% 37% 271 250 100 258 268 267 263 200 80 150 60 Unit Li
Slide 65: Global Banking and Investor Solutions: Q3 results
Global Banking and Investor Solutions Q3 24 results Global Markets and Investor Total Global Banking and Investor Financing and Advisory Services Solutions In EURm Q3 24 Q3 23 Change Q3 24 Q3 23 Change Q3 24 Q3 23 Change Net banking income 1,579 1,467 +8.0%* 843 843 +0.1%* 2,422 2,309 +4.9% +5.2%* O
Slide 66: Global Banking and Investor Solutions: 9M results
Global Banking and Investor Solutions 9M 24 results Global Markets and Investor Total Global Banking and Investor Financing and Advisory Services Solutions In EURm 9M 24 9M 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change Net banking income 5,063 4,913 +3.2%* 2,602 2,544 +2.2%* 7,666 7,457 +2.8% +2.8
Slide 67: Key financial indicators
Global Banking and Investor Solutions Key financial indicators Global Markets and Investor Services RWA (in EURbn) Financing and Advisory RWA (in EURbn) 59.5 62.2 63.9 59.9 57.8 56.9 5.6 6.2 6.2 23.4 0.8 1.7 1.8 23.6 23.6 Operational 9.6 8.4 7.6 53.1 54.3 55.9 Market 26.9 25.8 25.7 Credit Q3 23 Q2 2
Slide 68: Global Banking and Investor Solutions: Revenues
Global Banking and Investor Solutions Revenues Global Markets and Investor Services Revenues (in EURm) Financing & Advisory Revenues (in EURm) 161 181 169 168 Securities 144 713 571 530 Services 500 460 Fixed Income and 843 826 881 879 843 Currencies 869 989 880 799 755 Equities Q3 23 Q4 23 Q1 24 Q2
Slide 69: Financing & Advisory: Supporting clients in their transformations
Financing & Advisory Supporting clients in their transformations Client proximity Innovation Republic of Chile EUR 1.6bn 7-year senior unsecured social bond with a coupon of 3.875% issued Product excellence by the Republic of Chile. Social use of proceeds reference Chile’s Sustainable Active Bookrun
Slide 70: Recognised expertise: league tables, rankings, awards
Global Banking and Investor Solutions Recognised expertise: league tables - rankings - awards AWARDS & RANKINGS LEAGUE TABLES SUSTAINABLE FINANCE & ESG PRODUCTS #2 Sustainability-Linked Bonds Global GLOBAL MARKETS #3 Green, Social and Sustainability Bonds Global #4 Sustainability-linked Loans Bookru
Slide 71: Mobility, International Retail Banking and Financial Services: Q3 24 results
Mobility, International Retail Banking and Financial Services Q3 24 results International Retail Banking Mobility and Financial Services o.w Consumer finance Total In EURm Q3 24 Q3 23 Change Q3 24 Q3 23 Change Q3 24 Q3 23 Change Q3 24 Q3 23 Change Net banking income 1,058 1,044 +5.1%* 1,049 1,184 -9
Slide 72: Mobility, International Retail Banking and Financial Services: 9M 24 results
Mobility, International Retail Banking and Financial Services 9M 24 results International Retail Banking Mobility and Financial Services o.w Consumer finance Total In EURm 9M 24 9M 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change Net banking income 3,131 3,123 +4.0%* 3,271 3,368 -0
Slide 73: Breakdown by region – Q3 24 results
Mobility, International Retail Banking and Financial Services Breakdown by region – Q3 24 results Czech Republic Romania Africa, Mediterranean basin and Total International Retail Banking Overseas In EURm Q3 24 Q3 23 Change Q3 24 Q3 23 Change Q3 24 Q3 23 Change Q3 24 Q3 23 Change Net banking income
Slide 74: Breakdown by region – 9M 24 results
Mobility, International Retail Banking and Financial Services Breakdown by region – 9M 24 results Czech Republic Romania Africa, Mediterranean basin and Total International Retail Banking Overseas In EURm 9M 24 9M 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change 9M 24 9M 23 Change Net banking income
Slide 75: Breakdown of loans and deposits outstanding
Mobility, International Retail Banking and Financial Services Breakdown of loans and deposits outstanding Breakdown of Loans Outstanding (in EURbn)(1) Variation Breakdown of Deposits Outstanding (in EURbn) Variation Q3 24 / Q3 23 Q3 24 / Q3 23 93.6 +5.1% 18.2 +21.2% 89.0 15.0 2.9 +37.1% Sub-total Mo
Slide 76: Presence in Africa
Mobility, International Retail Banking and Financial Services Presence in Africa Clients NBI Net income C/I RWA 4.2m EUR 1.5bn EUR 219m 55% EUR 24bn NBI RWA Credits Deposits L/D Ratio Ranking 9M 24 (in EUR m) (in EUR m) (in EUR m) (in EUR m) Morocco 371 8,080 8,513 7,737 110% 5th Algeria 145 1,709 1
Slide 77: Methodology (1/2)
Methodology (1/2) 1 – Net banking income The pillars’ net banking income is defined on page 42 of Societe Generale’s 2024 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) 7 – The Societe Generale Group’s Common Equity Tier 1 capital is calculated in accordance with applicable CRR2/CRD5 rules. The phased-in ratios include the earnings for the current financial year and the related provision for dividends. The difference between phased-in ratio and fu
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