Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Debt Investor Presentation (February 2024)
81 slides from Societe Generale S.a. Class A's debt investor presentation, February 2024
Slide 1: Presentation to debt investors
Societe Generale Presentation to debt investors Fourth quarter and full year 2023 results
Slide 2: Disclaimer
Disclaimer The financial information on Societe Generale for its fourth management or not currently considered material, and there forecasts) and our own internal estimates. We have not quarter and full year 2023 financial results comprises this can be no assurance that anticipated events will occur
Slide 3: Full year and quarterly results
Full year and quarterly results Income Balance Sheet Main highlights Statement and Capital Revenues Strong annual and quarterly performance for Global Banking & CET1 Investor Solutions, and International Retail Banking EUR 25.1bn in FY 23 EUR 6.0bn in Q4 23 13.1%(1) at end of Q4 23 Record annual and
Slide 4: 2024: better performance through strategic plan execution
2024: better performance through strategic plan execution 2024 priorities 2024 financial targets(1) Enhanced commercial performance Linear improvement of operational efficiency REVENUES C/I RATIO COST OF RISK (~EUR 500m additional gross savings in 2024, ~EUR 750-800m of CTA) ≥+5% <71% 25-30bps vs. 2
Slide 5: Strategic milestones in 2024
Strategic milestones in 2024 French Retail, International Retail, Global Banking Group Private Banking and Mobility & Leasing & Investor Solutions Insurance Services Improved client satisfaction and In-depth transformation at Ayvens Launch of the transformation Creation of the Bernstein JV and opera
Slide 6: 1. Group performance
1. Group performance
Slide 7: Annual and quarterly revenues
Annual and quarterly revenues FY23 revenues (EURm) Q4 23 revenues (EURm) 27,155 463 -1,097 25,798 -468 -329 6,620 6,611 178 -321 24,671 -235 -199 -186 -274 25,104 6,213 22,113 5,838 -237 5,957 FY19 FY20 FY21 FY22 Perimeter NII French GBIS(2) TLTRO Corporate One-off Other(4) FY23 Q4 19 Q4 20 Q4 21 Q4
Slide 8: 2023 operational performance
2023 operational performance Reported annual operating Reported expenses evolution (EURm) Cost / income ratio 300 18,524 617 17,994 -145 -205 -37 75.6% 73.8% 71.9% 68.2% 66.3% FY22 Russia SRF(1) CTA(2) LeasePlan Other FY23 FY19 FY20 FY21 FY22 FY23 integration IFRS 4 IFRS 4 IFRS 4 IFRS 17 IFRS 17 (1)
Slide 9: Low 2023 cost of risk, high S1/S2 inventory
Low 2023 cost of risk, high S1/S2 inventory Cost of risk(1) Total S1/S2 provisions(2) (in EURm) In bps 28 28 13 12 24 17 21 3,769 Group 3,622 3,572 3,355 French Retail, Private 20 35 14 18 24 27 20 Banking and Insurance 2,282 2,379 1,987 2,503 2,304 Stage 2 Global Banking & 23 16 9 2 1 -7 3 1,231 St
Slide 10: Regulatory ratios
Regulatory ratios Comfortably above minimum requirements End Q4 23 ratios Requirements (1) Phased in Fully loaded CET1 9.77%(2)(3) 13,1% 13,1% Total Capital 14,2% 18,2% 18,2% Leverage ratio 3.5% 4,3% 4,2% TLAC (%RWA) 22.1%(3) 31,9% 31,9% TLAC (%leverage) 6.75% 8,7% 8,7% MREL (%RWA) 25.7%(3) 33,7% 33
Slide 11: Strong capital, well above requirements
Strong capital, well above requirements Change in CET 1 ratio(1) (in bps) Risk-weighted assets (in EURbn) 362 384 389 +9bps -24bps 13.3% IFRS 9 phasing +6bps +5bps -5bps 13.1% +6bps IFRS 9 phasing Q4 22 Q3 23 Q4 23 Main regulatory ratios Requirements(4) Ratios(1) CET 1 9.77% 13.1% 30.09.23 Organic R
Slide 12: TLAC and MREL ratios
Group TLAC and MREL ratios TLAC Q4 23 ratios MREL Q4 23 ratios % RWA EUR bn % Leverage % RWA EUR bn % Leverage 31.9% EUR 124bn 33.7% EUR 131bn 3.5% 14 SP SNP 5.3% 20 SP T2 ⁽¹⁾ 9.3% 36 25.7% SNP 22.1% AT1 9.3% 36 T2 ⁽¹⁾ CET1 AT1 3.6% 14 CET1 3.6% 14 2.4% 9 EUR 111bn 9.2% 8.7% 2.4% 9 EUR 111bn o.w. 6.
Slide 13: Long term funding program
Long term funding program 2024 vanilla long term funding program well advanced 2023 vanilla funding program fully completed, with c.EUR Program Issued* 24.8bn of vanilla notes (incl. EUR 7.1bn of pre-funding raised (in EURbn) (in EURbn) in 2022), of which: Secured notes ~3 ~ 2.4 EUR 7.3bn Secured
Slide 14: Sound liquidity profile, increase in deposits
Sound liquidity profile, increase in deposits Robust balance sheet Diversified deposit base Funded balance sheet(1) in EURbn as of Q4 23 In EURbn as of Q4 23 970 967 967 970 Short term wholesale funding 62 Net deposits in 214 24 TLTRO central banks HQLA⁽²⁾ French retail 84 Interbank loans 41 Other⁽³
Slide 15: Solid funding structure
Solid funding structure Loan to Deposit Ratio Robust balance sheet 105% 82% Loan to deposit ratio of 80% 87% 84% 81% 80% 80% High quality liquid asset buffers Customer loans 55% Customer deposits Comfortable LCR at 155% on average in Q4 23 594 598 612 612 618 L/D 516 503 501 497 497 NSFR at 119% abo
Slide 16: Group results
Group results In EURm Q4 23 Q4 22 Change 2023 2022 Change Net banking income 5,957 6,611 -9.9% -11.2%* 25,104 27,155 -7.6% -8.2%* Operating expenses (4,666) (4,455) +4.7% -0.8%* (18,524) (17,994) +2.9% +0.6%* Gross operating income 1,291 2,156 -40.1% -32.8%* 6,580 9,161 -28.2% -25.8%* Net cost of ri
Slide 17: 2. Business performance
2. Business performance SOCIETE GENERALE
Slide 18: French Retail, Private Banking and Insurance results
French Retail, Private Banking and Insurance results Revenues -14% vs. Q4 22 (-13% excl. PEL/CEL), -13% vs. FY 22 Net interest income excl. PEL/CEL -26% vs. Q4 22, -22% vs. FY 22 In EURm Q4 23 Q4 22 Change 2023 2022 Change Net banking income 1,953 2,279 -14.3% 8,023 9,210 -12.9% Fees -2.7% vs. Q4 22
Slide 19: SG network, Private Banking and Insurance
SG network, Private Banking and Insurance Loans and deposits outstanding -5% -6% Av. loans outstanding vs. Q4 22 Av. deposits outstanding vs. Q4 22 Increasing corporate loans outstanding excl. PGE, +1% vs. Q4 22 In EURbn In EURbn driven by short-term loans (PGE -32% vs. Q4 22) Home loans outstanding
Slide 20: NII of French Retail, Private Banking and Insurance
NII of French Retail, Private Banking and Insurance 2024-2025 Net interest income outlook(1) Key assumptions for this outlook Rate assumptions In EURm Euribor 3M (%, end of period): 3,9 2,1 2,6 2,1 Euribor 3M forwards 2024e ≥ 2022 FY 2,5 1,7 Euribor 3M assumptions 2022 2023 2024e 2025e 4,104 Freeze
Slide 21: BoursoBank
BoursoBank +43% +1.8pp New client onboarding in Q4 23 Penetration rate(2) vs. 2022 Leading bank in client satisfaction In ‘000 In % Acquisition Cost/New Client(1) 8.8 Client acquisition 100 566 7.0 New quarterly record at 566k in Q4 23, decreasing acquisition 396 4.9 costs per client in 2023 80 266
Slide 22: Global Banking and Investor Solutions
Global Banking and Investor Solutions Revenues -11% vs. Q4 22, -5% vs. a record FY 22 Global Markets and Investor Services -9% vs. a high Q4 22 In EUR m Q4 23 Q4 22 Change 2023 2022 Change Financing and Advisory -14% vs. Q4 22 Net banking income 2,185 2,459 -11.1% -9.8%* 9,640 10,108 -4.6% -3.4%* Op
Slide 23: Global Markets and Investor Services
Global Markets and Investor Services Revenues: -9% vs. Q4 22, -6% vs. FY 22 Global Markets revenues down -1% vs. Q4 22, -5% vs. FY 22 Q4 23 Global Markets revenues(1) FY 23 Global Markets revenues(1) (EURm) (EURm) Equities +18% vs. Q4 22 Very high Q4 revenue contribution in a supportive market 1,225
Slide 24: Financing and Advisory
Financing and Advisory Revenues: -14% vs. Q4 22, -1% vs. FY 22 Q4 23 F&A revenues(1) FY 23 F&A revenues(1) (EURm) (EURm) Global Banking and Advisory -14% vs. a record Q4 22 3,387 3,341 959 Sustained commercial performance in Asset Finance and 2,929 820 826 Natural Resources vs. a very strong Q4 22 S
Slide 25: International Retail, Mobility and Leasing Services
International Retail, Mobility and Leasing Services Revenues -5% vs. Q4 22, +5% vs. FY 22 International Retail Banking +2% vs. Q4 22, stable vs. FY 22 In EURm Q4 23 Q4 22 Change 2023 2022 Change Mobility and Leasing Services -11% vs. Q4 22, +9% vs. FY 22 Net banking income 2,015 2,111 -4.5% -10.1%*
Slide 26: International Retail Banking
International Retail Banking Europe +5% +8% Robust commercial activity and growth in loans outstanding Loans outstanding vs. Q4 22 Deposits outstanding vs. Q4 22 In EURbn In EURbn (+3% vs. Q4 22 in Czech Republic and +12% in Romania) Continued solid growth in deposits (+8% vs. Q4 22), driven by 54 5
Slide 27: Mobility and Leasing Services
Mobility and Leasing Services Revenues: -11% vs. Q4 22 Ayvens NBI -17% in Q4 23 vs. Q4 22 Continued increase in earning assets (+14% vs. Q4 22) notably due to higher car value Q4 23 revenues FY 23 revenues Pressure on margins mainly driven by inflation and rates (EURm) (EURm) environment 4,316 Swift
Slide 28: A key transformation year for Ayvens
A key transformation year for Ayvens LeasePlan integration Business trends Determination of the PPA(1), decrease in goodwill Margin level (excl. UCS) (in bps) by EUR 220m (impact on SG CET 1: +4bps) Active portfolio and order book management to optimize allocation of Integration on track… scarce res
Slide 29: Corporate Centre
Corporate Centre Main revenues impacts Final impact of the unwinding of the hedges on TLTRO In EURm Q4 23 Q4 22 2023 2022 (~EUR -30m) Net banking income (196) (238) (1,066) (302) Impact of the decrease in long-term rates on hedges not Operating expenses (109) (81) (264) (309) eligible for hedge acco
Slide 30: Delivering the ESG agenda of the Group
Delivering the ESG agenda of the Group Acceleration in 2023 Maintaining pace in 2024 Leading O&G reduction targets and diligent decarbonisation of emission- Complete NZBA alignment target setting by H1 24 with intensive sectors. 9 of the 12 NZBA sectors covered by targets (o/w 5 set in aviation, agr
Slide 31: 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, with an intermediary step in 2025 at -50% vs. 2019 EUR 300bn to support sustainable finance 2022 - 2025 ‒ Thermal Coal: Reduce exposure to zero by 2030 for
Slide 32: 3. Conclusion
3. Conclusion SOCIETE GENERALE
Slide 33: 2024 - Moving forward
2024 - Moving forward REBOUND IN REVENUES IMPROVEMENT IN OPERATIONAL EFFICIENCY A YEAR OF SUSTAINABLE EXECUTION PERFORMANCE STRONG BALANCE SHEET SIMPLIFIED BUSINESS MODEL PRESENTATION TO DEBT INVESTORS I FEBRUARY 2024 33
Slide 34: Linear progress towards our 2026 targets
Linear progress towards our 2026 targets 2024 2026 2023 GUIDANCE(1) GUIDANCE ≥+5% ≥+5% REVENUES CAGR -8% vs. 2023 REVENUES 0%-2% vs. 2022 i.e. i.e. ~-1.5% ~-1.5% CAGR 2022-2024 CAGR2022-2026 COST / INCOME RATIO 73.8% <71% C/I RATIO in 2023 in 2024 <60% in2026 NET COST OF RISK 17bps 25-30bps NCR in 2
Slide 35: 4. Supplement
4. Supplement SOCIETE GENERALE
Slide 36: Group long term funding breakdown
Group long term funding breakdown(1) Breakdown as of 31.12.2023 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 37: Credit rating overview
Credit rating overview Credit Ratings as of January 2024 Fitch revised SG rating outlook to “Positive” on July 3rd 2023 “The Positive Outlook reflects SG's steady progress in its earnings level and Fitch Moody’s S&P stability, as seen over the last three years, and our expectation that the bank will
Slide 38: A differentiated approach supported by an innovative ecosystem
A differentiated approach supported by an innovative ecosystem Innovating to support Catalysing transformation transitions at a local level New partnerships to design new offers Improving access to drinking water for thousands of people . New investment support launched with Tikehau for individuals
Slide 39: NZBA portfolio alignment targets (1/2)
NZBA portfolio alignment targets (1/2) Societe Generale’s alignment targets are presented in more detail in its Climate and Alignment report: Climate and Alignment Report – December 2023 (societegenerale.com) Striving to meet or exceed the IEA 1.5°C scenario EMISSIONS SECTOR & SCOPE METRICS SCOPE SC
Slide 40: NZBA portfolio alignment targets (2/2)
NZBA portfolio alignment targets (2/2) EMISSIONS SECTOR & SCOPE METRICS SCOPE SCENARIO BASELINE & TARGET 671 -20% Cement KgCO2e/tcement 535 463 LIMESTONE MANUFACTURING CONCRETES CONSTRUCTION IEA’s NZE2050 QUARRYING INDUSTRY kgCO2e/t cement Scopes 1 & 2 scenario 2022 2030 IEA 2030 4.0 Steel SSPAligne
Slide 41: Well recognized by extra-financial rating agencies
Well recognized by extra-financial rating agencies AGENCIES BEST SCORE WORST AAA AA A BBB BB B CCC 0 20 30 40 80+ 19.6 Low Risk 100 60 50 30 0 69 100 60 57 54 30 0 69 A+ C+ C C- D+ D D- A A- B B- C C- D D- Ratings represent those allocated at annual reviews. Number of companies in each agency univer
Slide 42: Main exceptional items
Main exceptional items In EURm Q4 23 Q4 22 2023 2022 Net B anking Incom e - Total exceptional item s 41 0 ( 199) 0 One-off legacy items - Corporate Centre 41 0 (199) 0 Operating expenses - Total one-off item s and transform ation charges ( 102) ( 221) ( 765) ( 767) Transform ation charges ( 102) ( 2
Slide 43: 2024-2026 economic assumptions
2024-2026 economic assumptions GDP Growth (% YoY) Inflation rate (% YoY) 1.8% 5.7% 1.8% 5.4% 1.5% 4.3% 0.8% 1.1% 2.7% 2.5% 2.5% 0.7% 0.6% 2.5% 0.7% 2.4% 2.2% 2.0% 2.0% 0.5% 2023e 2024e 2025e 2026e 2023e 2024e 2025e 2026e Eurozone France U.S Eurozone France U.S 10 Y government bonds (%, end of period
Slide 44: Quarterly income statement by core business
Group Quarterly income statement by core business French Retail, Private Banking Global Banking and Investor International Retail, Mobility and Corporate Centre Group and Insurance Solutions Leasing Services In EURm Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Net banking income 1,953
Slide 45: 2023 income statement by core business
Group 2023 income statement by core business French Retail, Private Banking Global Banking and Investor International Retail, Mobility and Corporate Centre Group and Insurance Solutions Leasing Services In EURm 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 Net banking income 8,023 9,210 9,640 10
Slide 46: IFRIC impact
Group IFRIC 21 impact Total IFRIC 21 Impact o/w Resolution Funds - costs In EURm 2023 2022 2023 2022 French Retail, Private Banking and Insurance (167) (225) (112) (173) Global Banking and Investor Solutions (581) (741) (481) (623) Global Markets and Investor Services (421) (566) (357) (486) Financi
Slide 47: CRR2/CRD5 prudential capital ratios
Group CRR2/CRD5 prudential capital ratios Phased-in Common Equity Tier 1, Tier 1 and Total Capital In EURbn 31.12.2023 31.12.2022 Shareholder equity Group share 66.0 66.5 (1) Deeply subordinated notes (9.1) (10.0) Distribution to be paid(2) & interest on subordinated notes (1.1) (1.9) Goodwill and i
Slide 48: CRR2 leverage ratio
Group CRR2 leverage ratio CRR2 phased-in Leverage Ratio(1) In EURbn 31.12.2023 31.12.2022 Tier 1 Capital 60.5 58.8 Total prudential balance sheet(2) 1,397 1,340 Adjustments related to derivative financial instruments 0 (7) (3) Adjustments related to securities financing transactions 14 15 Off-balanc
Slide 49: Risk-weighted assets
Group Risk-weighted assets(1) (CRR2/CRD5, in EUR bn) 388.8 384.2 362.4 50.1 48.7 128.0 130.0 46.0 123.7 12.5 116.7 117.5 118.5 7.6 119.4 118.5 11.3 7.3 5.1 5.1 5.2 0.3 0.2 101.7 29.0 13.7 Total 29.0 29.3 4.6 0.2 12.7 10.4 10.4 Operational Market 120.5 122.2 324.2 326.2 111.6 112.4 113.3 Credit 302.6
Slide 50: Geographic breakdown of Group commitments
Group Geographic breakdown of SG Group commitments at 31.12.2023 On-and off-balance sheet EAD(1) All customers included: EUR 1,153bn Africa and Middle Latin America and East 3% Caribbean 1% Asia Pacific 5% Eastern Europe (EU) 7% North America France 45% 15% Western Europe (excl. France) 22% (1) Tota
Slide 51: Change in gross book outstandings
Group Change in gross book outstandings(1) End of period in EURbn 594.7 597.0 597.8 592.0 Total 573.0 579.9 585.0 586.1 572.4 131.9 138.1 139.3 163.5 164.3 145.3 142.3 137.8 166.7 International Retail, Mobility & Leasing Services Global Banking and Investor Solutions 190.7 190.1 182.9 170.7 176.9 17
Slide 52: Cost of risk
Group Cost of risk In EURm Q4 23 Q4 22 2023 2022 Net Cost Of Risk 163 219 505 483 French Retail, Private Banking and Gross loan Outstandings 240,533 250,175 246,701 246,249 Insurance Cost of Risk in bp 27 35 20 20 Net Cost Of Risk 39 78 30 421 Global Banking and Investor Solutions Gross loan Outstan
Slide 53: Non-performing loans
Group Non-performing loans In EUR bn 31.12.2023 30.09.2023 31.12.2022 Performing loans 535.5 543.1 554.4 inc. Stage 1 book outstandings ⁽¹⁾ 480.5 489.4 494.2 inc. Stage 2 book outstandings 39.4 38.3 43.6 Non-performing loans 16.1 16.4 15.9 inc. Stage 3 book outstandings 16.1 16.4 15.9 Total Gross bo
Slide 54: Low residual Russian exposure
Low residual Russian exposure Limited Russian exposure Exposure breakdown Corporate gross exposure by type as of 31 December 23 Offshore portfolio reduced by ~-72% Evolution of exposure at default (EURbn) 3.2 33% 2.6 ECA-backed 1.8 52% 1.6 Pre-export Finance 1.0 0.9 Term Loan 15% 31-Dec-21 30-Jun-22
Slide 55: Commercial real estate exposure
Commercial real estate exposure Diversified exposure European portfolio US portfolio Commercial real estate gross exposure European commercial real estate gross US commercial real estate gross by geography (%) exposure by asset class (%) exposure by asset class (%) 6% 2% France Office 14% 5% 13% Eur
Slide 56: 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 31.12.2023 Total group EAD: EUR 1,153bn COMMERCIAL REAL ESTATE: ~2% of total Group EAD Financial services 6.8% Real Estate 3.0% CONSTRUCTION: ~1.0% of total Group E
Slide 57: IFRS 9 expected credit loss monitoring
IFRS 9 expected credit loss monitoring METHODOLOGY APPLIED As of Q4 23, 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 58: 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 15 18 17 10 13 23 18 18 17 21 15 12 __ Trading VaR(1) 11 Credit 7 17 15 14 16 18 17 Interest Rates 12 15 10 Equity 8 11 12 14 14 Forex 8 9 9 11 3 4 3 2 Commodities 2 2 2 2 2 0 1 1
Slide 59: Liquid asset buffer
Group Liquid asset buffer Liquid Asset Buffer (in EURbn) 316 Strong liquidity reserves further strengthened 296 309 284 28 since end 2022: 279 29 27 24 25 55 74 . Significant part of cash at Central Banks (EUR 214bn 59 56 57 as of Q4 23 vs. EUR 195bn as of Q4 22) . HQLA (EUR 74bn net of haircuts) mo
Slide 60: EPS calculation
Group EPS calculation Average number of shares (thousands) 2023 2022 2021 Existing shares 818,008 845,478 853,371 Deductions Shares allocated to cover stock option plans and free shares awarded to staff 6,802 6,252 3,861 Other own shares and treasury shares 11,891 16,788 3,249 Number of shares used
Slide 61: Net asset value, tangible net asset value
Group Net asset value, tangible net asset value End of period (in EURm) 2023 2022 2021 Shareholders' equity Group share 65,975 66,970 65,067 Deeply subordinated and undated subordinated notes (9,095) (10,017) (8,003) Interest payable to holders of deeply & undated subordinated notes, issue premium (
Slide 62: ROE/ROTE calculation detail
Group ROE/ROTE calculation detail End of period (in EURm) Q4 23 Q4 22 2023 2022 Shareholders' equity Group share 65,975 66,970 65,975 66,970 Deeply subordinated and undated subordinated notes (9,095) (10,017) (9,095) (10,017) Interest payable to holders of deeply & undated subordinated notes, issue
Slide 63: French Retail, Private Banking and Insurance quarterly results and 2023
French Retail, Private Banking and Insurance Quarterly results and 2023 French Retail, Private Banking French Retail, Private Banking O.w Insurance O.w Insurance and Insurance and Insurance In EURm Q4 23 Q4 22 Change Q4 23 Q4 22 Change 2023 2022 Change 2023 2022 Change Net banking income 1,953 2,279
Slide 64: French Retail: Net banking income
French Retail, Private Banking and Insurance Net banking income NBI, (in EURm) -14.3% 2,279 2,083 2,105 Commissions 1,953 1,883 #REF! vs. Q4 22 973 1,014 1,022 947 0.4% Fees 983 79 Other Income Net interest margin 81 95 55 8 #REF! vs. Q4 22 Net Interest Margin 1,077 846 808 797 744 Insurance Revenue
Slide 65: Customer deposits and financial savings
French Retail, Private Banking and Insurance Customer deposits and financial savings Average outstandings (in EURbn) 463 462 459 461 462 132 133 133 132 136 27⁽¹⁾ 27⁽¹⁾ 28 29 Life Insurance 31 Securities, Mutual Funds and Others 161 153 146 138 Sight Deposits(1) 172 PEL 16 15 Regulated Savings 17 16
Slide 66: Loans outstanding
French Retail, Private Banking and Insurance Loans outstanding Average outstandings, net of provisions (in EURbn) 247 244 241 237 234 126 124 124 122 120 Housing 20 19 17 16 15 Consumer Credit and Overdraft Business 102 100 100 99 Customers(1) and 99 Financial Institutions 0.2 0.2 0.2 0.2 0.2 Q4 22
Slide 67: 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) 1% 350 131.6 131.8 1% 1% 132.9 133.3 136.2 300 264 250 268 265 268 1% 1% 36% 37% 38% 37% 38% 200 258 1% 150 0% 0% Unit
Slide 68: Global banking and investor solutions quarterly results
Global banking and investor solutions Quarterly results Global Markets and Investor Total Global Banking and Investor Financing and Advisory Services Solutions In EURm Q4 23 Q4 22 Change Q4 23 Q4 22 Change Q4 23 Q4 22 Change Net banking income 1,359 1,500 -8.0%* 826 959 -12.5%* 2,185 2,459 -11.1% -9
Slide 69: Global banking and investor solutions 2023 results
Global banking and investor solutions 2023 results Global Markets and Investor Total Global Banking and Investor Financing and Advisory Services Solutions In EURm 2023 2022 Change 2023 2022 Change 2023 2022 Change Net banking income 6,299 6,721 -5.0%* 3,341 3,387 -0.3%* 9,640 10,108 -4.6% -3.4%* Ope
Slide 70: 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) 63.4 59.5 60.4 60.3 59.9 58.0 5.6 5.6 5.8 2.2 0.8 0.9 23.3 23.4 23.5 Operational 10.5 9.6 9.6 55.6 53.1 53.7 Market 26.5 26.9 24.9 Credit Q4 22 Q3
Slide 71: 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) 210 275 179 168 Securities 892 144 Services 959 558 514 450 830 858 827 826 578 Fixed Income and Currencies 832 787 800 765 647 Equities Q4 22 Q1 23 Q2 23 Q3
Slide 72: Financing & Advisory: Supporting clients in their transformations
Financing & Advisory Supporting clients in their transformations Client proximity Pattern Energy USD 8.8bn financing of Pattern Energy's Transmission and Wind projects, which Innovation Initial CLA, JBR, Co-Green Loan together lead to the largest clean energy infrastructure project in U.S. history.
Slide 73: Recognised expertise: league tables - rankings - awards
Global Banking and Investor Solutions Recognised expertise: league tables - rankings - awards AWARDS & RANKINGS LEAGUE TABLES GLOBAL BANKING & ADVISORY GLOBAL MARKETS SUSTAINABLE FINANCE & ESG PRODUCTS #3 Sustainability-Linked Loans Bookrunner EMEA IFR Awards 2023 Global Finance IFR Awards 2023 #2 S
Slide 74: International Retail, Mobility and Leasing Services quarterly results
International Retail, Mobility and Leasing Services Quarterly results International Retail Banking Mobility and Leasing Services O.w Consumer finance Total In EURm Q4 23 Q4 22 Change Q4 23 Q4 22 Change Q4 23 Q4 22 Change Q4 23 Q4 22 Change Net banking income 1,067 1,051 +4.3%* 948 1,060 -24.9%* 226
Slide 75: International Retail, Mobility and Leasing Services 2023 results
International Retail, Mobility and Leasing Services 2023 results International Retail Banking Mobility and Leasing Services O.w Consumer finance Total In EURm 2023 2022 Change 2023 2022 Change 2023 2022 Change 2023 2022 Change Net banking income 4,191 4,190 +6.5%* 4,316 3,949 -4.4%* 915 973 -6.4%* 8
Slide 76: Breakdown by region – Quarterly results
International Retail, Mobility and Leasing Services Breakdown by region – Quarterly results Czech Republic Romania Africa, Mediterranean basin Total International Retail and Overseas Banking In EURm Q4 23 Q4 22 Change Q4 23 Q4 22 Change Q4 23 Q4 22 Change Q4 23 Q4 22 Change Net banking income 335 36
Slide 77: Breakdown by region – 2023 results
International Retail, Mobility and Leasing Services Breakdown by region – 2023 results (1) Czech Republic Romania Russia Africa, Mediterranean basin Total International Retail and Overseas Banking In EURm 2023 2022 Change 2023 2022 Change 2023 2022 Change 2023 2022 Change 2023 2022 Change Net bankin
Slide 78: Breakdown of loans and deposits outstanding
International Retail, Mobility and Leasing Services Breakdown of loans and deposits outstanding Breakdown of Loans Outstanding (in EURbn) Variation Breakdown of Deposits Outstanding (in EURbn) Variation Q4 23 / Q4 22 Q4 23 / Q4 22 88.8 +39.8% n.a. 15.8 Sub-total Mobility and Leasing 24.1 +0.7% 2.3 +
Slide 79: Presence in Africa
International Retail, Mobility and Leasing Services Presence in Africa Clients NBI Net income C/I RWA 4.5m EUR 1.9bn EUR 297m 55% EUR 24bn NBI RWA Credits Deposits L/D Ratio Ranking 2023 (in EURm) (in EURm) (in EURm) (in EURm) Morocco 484 8,202 8,627 7,438 116% 5th Algeria 165 1,686 1,599 2,450 65%
Slide 80: Methodology (1/2)
Methodology (1/2) 1 – Net banking income The pillars’ net banking income is defined on page 41 of Societe Generale’s 2023 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 81: 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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