Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Q1 2025 Earnings Presentation
66 slides from Societe Generale S.a. Class A's earnings presentation, Apr 30, 2025
Slide 1: Societe Generale Group Results Q1 2025
Societe Generale Group Results First quarter 2025 results
Slide 2: Disclaimer
Disclaimer The financial information on Societe Generale for its first that anticipated events will occur or that the objectives set independently verified these third-party sources and cannot quarter 2025 financial results comprises this presentation and out will actually be achieved. guarantee the
Slide 3: Strong quarterly results, increased profitability
Strong quarterly results, increased profitability Income Balance Sheet Quarterly results ahead of Statement and Capital end-of-year targets Revenues CET1 ratio(1) Q1 25 NBI growth(3) Q1 25 Costs(3) Q1 25 C/I ratio EUR 7.1bn in Q1 25 13.4% at end Q1 25 +10.2% vs. Q1 24 -4.4% vs. Q1 24 65% 2025 Target
Slide 4: Robust and resilient model to navigate the current environment
Robust and resilient model to navigate the current environment Macro environment Solid and diversified portfolio Strong risk management Low exposure to the most vulnerable economies Diversified business activities Reduced market risk Stress test usage reduced by ~70% in Q1 25 vs. 2020 Tariffs applie
Slide 5: 1. Group performance
1. Group performance SOCIETE GENERALE
Slide 6: Strong revenue growth in Q1
Strong revenue growth in Q1 25 Q1 25 Revenues (EURm) +6.6% +10.2%(1) +16(1) +51 7,083 +264 +326(1) 6,645 -219(2) 6,426 Q1 24 Disposals Q1 24 RPBI(3) GBIS(4) MIBS(5) Corporate Q1 25 post disposals Centre French Retail, Private Banking and Insurance +16.5%(1) vs. Q1 24 (+2.5%(1) excluding short-term h
Slide 7: Costs reduction improves operating leverage across all businesses
Costs reduction improves operating leverage across all businesses Q1 25 Operating Expenses (EURm) C/I ratio by business (%) -7.6% -4.4%(1) 86% 4,980 -162(2) 4,818 -278 75% 68% 67% 65% <66% +29 +22 +5 +8 4,604 61% 63% 59% Q1 24 Disposals Q1 24 CTA(3) Taxes Bernstein M&A Other Q1 25 RPBI(4) GBIS(5) MI
Slide 8: Contained cost of risk, below guidance
Contained cost of risk, below guidance Cost of risk(1) Total S1/S2 provisions(2) (in EURm) In EURm 4.6% 4.5% 4.7% In bps Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 3,286(3) 3,119(3) 3,131 Group 27 26 27 23 23 2,133 2,076 2,107 French Retail, Private Banking and 41 29 30 20 29 Insurance 1,153 1,043 1,024 Global B
Slide 9: Solid capital position post Basel IV
Solid capital position post Basel IV Change in CET1 ratio(1) (in bps) Risk-weighted assets (in EURbn) +43bps -48bps 390 393 388 +18bps +2bps 13.4% 13.3% Q1 24 Q4 24 Q1 25 Main regulatory ratios Q4 24 Capital M&A(3) Basel IV Other Q1 25 Requirements Ratios(1) generation impact through earnings - Dist
Slide 10: Liquidity profile and deposit base
Liquidity profile and deposit base Robust balance sheet(1) Diversified deposit base Funded balance sheet(2) in EURbn at end Q1 25 In EURbn at end Q1 25 952 931 952 931 Net deposits in 61 63 Short term wholesale funding French retail central banks 193 161 3% Private banking HQLA⁽³⁾ 94 117 Interbank l
Slide 11: Group results
Group results In EURm Q1 25 Q1 24 Change Net banking income 7,083 6,645 +6.6% +9.9%* Operating expenses (4,604) (4,980) -7.6% -4.6%* Gross operating income 2,479 1,665 +48.9% +53.0%* Net cost of risk (344) (400) -13.9% -9.5%* Operating income 2,135 1,265 +68.8% +72.1%* Net profits or losses from oth
Slide 12: 2. Business performance
2. Business performance SOCIETE GENERALE
Slide 13: SG network, Private Banking and Insurance
1 - FRENCH RETAIL, PRIVATE BANKING AND INSURANCE SG network, Private Banking and Insurance -3% -1% Loans and deposits outstanding of SG network Av. loans outstanding vs. Q1 24 Av. deposits outstanding vs. Q1 24 In EURbn In EURbn Loans outstanding excluding PGE -1.8% vs. Q1 24 Home loans production +
Slide 14: BoursoBank
1 - FRENCH RETAIL, PRIVATE BANKING AND INSURANCE BoursoBank +458k +21% Client acquisition and satisfaction New client onboarding in Q1 25 Total clients vs. Q1 24 In ′000 In m ~7.6m clients at end Q1 25 High onboarding pace with +458k new clients in Q1 25 457 458 7.6 6.3 +1.3m additional clients year
Slide 15: French Retail, Private Banking and Insurance
1 - FRENCH RETAIL, PRIVATE BANKING AND INSURANCE French Retail, Private Banking and Insurance Highlights Income Statement In EURm Q1 25 Q1 24 Change Revenues +14.1% vs. Q1 24 (+16.5% excluding asset disposals) Net banking income 2,299 2,016 +14.1% +16.5%* NII +28.4% vs. Q1 24 (broadly stable excludi
Slide 16: Global Markets and Investor Services
2 - GLOBAL BANKING AND INVESTOR SOLUTIONS Global Markets and Investor Services Revenues +10.0% vs. Q1 24 Global Markets revenues +10.9% vs. Q1 24 Q1 25 Global Markets revenues In EURm Equities +21.8% vs. Q1 24 1,759 Record quarter(1) driven by more volatile equity markets with 1,712 1,586 higher cli
Slide 17: Financing and Advisory
2 - GLOBAL BANKING AND INVESTOR SOLUTIONS Financing and Advisory Revenues +10.0% vs. Q1 24 Q1 25 F&A revenues In EURm Global Banking and Advisory +10.5% vs. Q1 24 973 Robust performance in asset finance 850 885 Steady results in Asset-Backed Products despite less conducive market conditions compared
Slide 18: Global Banking and Investor Solutions
2 - GLOBAL BANKING AND INVESTOR SOLUTIONS Global Banking and Investor Solutions Highlights Income Statement Revenues +10.0% vs. Q1 24 Global Markets and Investor Services +10.0% vs. Q1 24 In EUR m Q1 25 Q1 24 Change Net banking income 2,896 2,631 +10.0% +8.8%* Financing and Advisory +10.0% vs. Q1 24
Slide 19: International Retail Banking
3 - MOBILITY, INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES International Retail Banking +6%* / +1%* +5%* Loans / deposits outstanding vs. Q1 24 Revenues vs. Q1 24 Revenues +2%* vs. Q1 24 In EURbn In EURm Europe 54.8 54.9 55.1 493 520 42.3 44.3 44.9 Strong momentum in loans outstanding (+6%* v
Slide 20: Mobility and Financial Services
3 - MOBILITY, INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES Mobility and Financial Services Revenues stable* vs. Q1 24 Q1 25 M&FS revenues In EURm Ayvens revenues stable vs. Q1 24 with increasing margins(1) 1,121 1,087 Earning assets at EUR 53.5bn in Q1 25, +1.4% vs. Q1 24 1,035 Continued incr
Slide 21: Mobility, International Retail Banking and Financial Services
3 - MOBILITY, INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES Mobility, International Retail Banking and Financial Services Highlights Income Statement Revenues +1.1%* vs. Q1 24 In EURm Q1 25 Q1 24 Change Net banking income 2,000 2,161 -7.4% +1.1%* International Retail Banking +1.9%* vs. Q1 24 O
Slide 22: Corporate Centre
Corporate Centre Revenues Up vs. Q1 24 thanks to management actions to more efficiently use excess liquidity In EURm Q1 25 Q1 24 Net banking income (112) (162) Operating expenses (103) (145) Operating expenses Gross operating income (215) (308) Down vs. Q1 24 due to transformation charges Net cost o
Slide 23: Delivering on our ESG ambitions
Delivering on our ESG ambitions Progressing with our portfolio alignment Financing the transition On track to achieve our decarbonisation ambitions for the most carbon intensive sectors, including: ~EUR 80bn achieved end 2024 towards the Group’s EUR 500bn sustainable finance target between 2024 and
Slide 24: 3. Conclusion
3. Conclusion SOCIETE GENERALE
Slide 25: On track to achieve 2025 targets
On track to achieve 2025 targets 2025 2026 2023 2024 Q1 25 TARGETS TARGETS REVENUES REVENUES -8% +6.7% +10.2%(1) >+3%(1) 0%-2% vs. 2022 vs. 2023 vs. Q1 24 vs. 2024 CAGR2022-2026 COST / INCOME RATIO 73.8% 69.0% 65.0% <66% C/I RATIO in 2023 in 2024 in Q1 25 in 2025 <60% OF WHICH COSTS -4.4%(1) >-1%(1)
Slide 26: 4. Supplement
4. Supplement SOCIETE GENERALE
Slide 27: Overview of exceptional items
Overview of exceptional items In EURm Q1 25 Q1 24 Operating expenses - Total one-off items and transformation charges (74) (352) Transformation charges (74) (352) Of which French Retail, Private Banking and Insurance (23) (81) Of which Global Banking & Investor Solutions (12) (154) Of which Mobility
Slide 28: IFRIC impact
Group IFRIC 21 impact Total IFRIC 21 Impact o/w Resolution Funds - costs In EURm Q1 25 Q1 24 Q1 25 Q1 24 French Retail, Private Banking and Insurance (46) (47) 0 0 Global Banking and Investor Solutions (131) (106) 0 0 Global Markets and Investor Services (97) (85) 0 0 Financing and Advisory (34) (21
Slide 29: Quarterly income statement by core business
Group Quarterly 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 EUR m Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Net banking inc
Slide 30: CRR3/CRD6 prudential capital ratios
Group CRR3/CRD6 prudential capital ratios Phased-in Common Equity Tier 1, Tier 1 and Total Capital In EURbn 31.03.2025 31.12.2024 Shareholder equity Group share 70.6 70.3 (1) Deeply subordinated notes (10.2) (10.5) (2) Distribution to be paid & interest on subordinated notes (2.0) (1.9) Goodwill and
Slide 31: CRR3 leverage ratio
Group CRR3 leverage ratio CRR3 phased-in Leverage Ratio(1) In EURbn 31.03.2025 31.12.2024 Tier 1 Capital 63.4 62.6 (2) Total prudential balance sheet 1,386 1,407 Adjustments related to derivative financial instruments 8 2 (3) Adjustments related to securities financing transactions 15 14 Off-balance
Slide 32: TLAC and MREL ratios
Group TLAC and MREL ratios TLAC Q1 25 ratios MREL Q1 25 ratios % RWA EUR bn % Leverage % RWA EUR bn % Leverage 33.3% EUR 131bn 29.7% EUR 117bn SP SNP 3.6% 14 SP T2 ⁽¹⁾ 27.6% SNP 10.3% 41 22.3% AT1 T2 ⁽¹⁾ 10.3% 41 CET1 AT1 3.3% 13 CET1 3.3% 13 2.7% 11 EUR 117bn EUR 117bn 9.2% 8.2% o.w. 2.7% 11 junior
Slide 33: Risk-weighted assets
Group Risk-weighted assets(1) (CRR3/CRD6, in EUR bn) 389.5 393.1 388.2 50.1 50.1 64.7 128.9 127.3 128.2 12.0 12.2 125.0 125.5 118.7 120.3 7.5 120.9 119.6 10.7 5.2 5.2 18.7 7.5 19.6 24.9 0.3 29.4 0.0 0.0 0.1 29.3 Total 0.0 0.1 9.7 10.7 10.7 Operational Market 326.1 327.2 121.1 317.7 113.6 115.1 113.3
Slide 34: Geographic breakdown commitments
Group Geographic breakdown commitments at 31.03.2025 On-and off-balance sheet EAD(1): EUR 1,062bn Africa and Middle Latin America and East 2% Caribbean 1% Asia Pacific 6% Eastern Europe (EU) 7% France 45% North America 17% Western Europe (excl. France) 22% (1) Total credit risk (debtor, issuer and r
Slide 35: Change in gross loans outstanding
Group Change in gross loans outstanding(1) End of period in EURbn 597.0 597.8 592.0 572.4 568.5 566.6 557.6 571.0 572.5 Total 163.5 164.3 166.7 137.8 141.9 142.7 142.9 143.2 Mobility, International Retail Banking & 141.1 Financial Services Global Banking and Investor Solutions 170.7 171.7 173.2 167.
Slide 36: Cost of risk
Group Cost of risk In EURm Q1 25 Q1 24 Net Cost Of Risk 171 247 French Retail, Private Banking and Gross loan Outstandings 233,536 238,394 Insurance Cost of Risk in bps 29 41 Net Cost Of Risk 55 (20) Global Banking and Investor Solutions Gross loan Outstandings 172,782 162,457 Cost of Risk in bps 13
Slide 37: Non-performing loans
Group Non-performing loans In EUR bn 31.03.2025 31.12.2024 31.03.2024 Performing loans 492.0 496.9 509.7 ⁽¹⁾ o/w Stage 1 book outstandings 439.0 443.4 456.9 o/w Stage 2 book outstandings 39.7 39.6 38.1 Non-performing loans 14.3 14.4 15.0 o/w Stage 3 book outstandings 14.3 14.4 15.0 (2) Total Gross b
Slide 38: 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 asset 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 Ce nt ral (B) In EUR bn, as of 31 March 2025 To
Slide 39: 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 (%) 1% Office 13% 4%
Slide 40: 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 31.03.2025 COMMERCIAL REAL ESTATE: ~2% of total Group EAD Total Group EAD: EUR 1,062bn Financial services 6.9% CONSTRUCTION: ~1.2% of total Group EAD Utilities 3.2%
Slide 41: 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 EUR m) 25 27 24 24 17 18 16 19 20 18 18 15 12 __ Trading VaR(1) 14 10 9 9 10 Credit 17 15 14 9 17 8 Interest Rates 10 8 9 Equity 12 14 14 14 16 17 Forex 11 13 12 Commodities 2 2 2 2 2 1 1 1 2 1 1 0
Slide 42: Long term funding programme
Long term funding programme 2025 vanilla long-term funding programme well advanced 2025 long-term vanilla funding programme well advanced with 54% execution rate* Programme Issued* (in EURbn) (in EURbn) Secured notes - - Senior Preferred notes - - ~ EUR 9bn of vanilla notes issued in 2025 YTD* Senio
Slide 43: Liquid asset buffer
Group Liquid asset buffer Strong liquidity reserves Liquid Asset Buffer (in EURbn) 316 326 322 316 315 Liquidity reserves at EUR 316bn in Q1 25 28 33 40 43 46 . Significant part of cash at Central Banks 81 81 97 (EUR 166bn as of Q1 25 vs. EUR 206bn as of Q1 24) 82 104 . HQLA securities (EUR 104bn ne
Slide 44: EPS calculation
Group EPS calculation Average number of shares (thousands) Q1 25 2024 2023 Existing shares 800,317 801,915 818,008 Deductions Shares allocated to cover stock option plans and free shares awarded to staff 2,586 4,402 6,802 Other own shares and treasury shares 7,646 2,344 11,891 (1) Number of shares u
Slide 45: Net asset value, tangible net asset value
Group Net asset value, tangible net asset value End of period (in EURm) Q1 25 2024 2023 Shareholders' equity Group share 70,556 70,256 65,975 Deeply subordinated and undated subordinated notes (10,153) (10,526) (9,095) Interest payable to holders of deeply & undated subordinated notes, issue premium
Slide 46: ROE/ROTE calculation detail
Group ROE/ROTE calculation detail End of period (in EURm) Q1 25 Q1 24 Shareholders' equity Group share 70,556 67,342 Deeply subordinated and undated subordinated notes (10,153) (10,166) (1) Interest payable to holders of deeply & undated subordinated notes, issue premium amortisation (60) (71) OCI e
Slide 47: French Retail, Private Banking and Insurance quarterly results
French Retail, Private Banking and Insurance Quarterly results French Retail, Private Banking o/w Insurance and Insurance In EURm Q1 25 Q1 24 Change Q1 25 Q1 24 Change Net banking income 2,299 2,016 +14.1% 170 166 +2.1% Operating expenses (1,566) (1,728) -9.4% (34) (41) -17.4% Gross operating income
Slide 48: French Retail: Net banking income
French Retail, Private Banking and Insurance Net banking income NBI (in EURm) 2,260 2,273 2,299 2,131 166 169 170 2,016 +14.1% 173 166 Insurance revenues 1,034 1,029 1,056 1,027 1,018 Fees Net Interest Income (excluding PEL/CEL provision or reversal) 1,067 1,100 1,056 Other income 899 828 +2.1% PEL/
Slide 49: French Retail: Customer deposits and financial savings
French Retail, Private Banking and Insurance Customer deposits and financial savings Average outstandings (in EURbn) 467 475 480 478 473 141 143 145 146 148 Life Insurance (1) Securities, Mutual Funds and Other 31 33 33 35 32 Sight Deposits 133 133 130 PEL 133 125 Passbook deposits 15 14 13 13 12 Re
Slide 50: French Retail: Loans outstanding
French Retail, Private Banking and Insurance Loans outstanding Average outstandings, net of provisions (in EURbn) 231 229 228 226 223 -3.5% 119 118 117 116 114 Housing -3.6% Consumer Credit and Overdraft 15 14 14 14 14 Business -7.2% Customers(1) and Financial Institutions 98 97 96 96 95 -2.8% Q1 24
Slide 51: French Retail: Insurance key figures
French Retail, Private Banking and Insurance Insurance key figures Life Insurance Outstandings and Unit Linked Breakdown (in EURbn) Personal Protection Insurance Premiums (in EURm) 146.1 148.1 160 350 140 140.5 142.9 144.9 300 120 39% 39% 40% 40% 40% 271 267 263 250 100 259 262 Unit Linked 200 80 15
Slide 52: Global Banking and Investor Solutions Q1 results
Global Banking and Investor Solutions Q1 25 results Global Markets and Investor Total Global Banking and Investor Financing and Advisory Services Solutions In EURm Q1 25 Q1 24 Change Q1 25 Q1 24 Change Q1 25 Q1 24 Change Net banking income 1,922 1,747 +8.9%* 973 885 +8.7%* 2,896 2,631 +10.0% +8.8%*
Slide 53: GBIS 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) 60.3 67.0 70.5 59.3 60.3 57.7 5.8 5.6 8.5 16.4 Operational 0.8 1.1 1.0 23.5 23.8 8.6 Market 9.9 9.6 53.7 60.3 60.9 Credit 32.7 25.8 27.0 Q1 24 Q4 2
Slide 54: GBIS revenues
Global Banking and Investor Solutions Revenues Global Markets and Investor Services Revenues (in EURm) Financing & Advisory Revenues (in EURm) 163 161 181 169 162 698 Securities 715 573 Services 531 502 Fixed Income and 968 973 Currencies 885 883 846 991 1,061 871 882 834 Equities Q1 24 Q2 24 Q3 24
Slide 55: Financing & Advisory: Supporting clients in their transformations
Financing & Advisory Supporting clients in their transformations Client proximity Mars USD 26bn bond issued by Mars together with a USD 1bn USPP, as part of a Innovation Joint Bookrunner, Hedge broader financing package for the acquisition of Kellanova, a leading company in Product excellence provid
Slide 56: Recognised expertise: league tables, rankings, awards
Global Banking and Investor Solutions Recognised expertise: league tables - rankings - awards AWARDS & RANKINGS LEAGUE TABLES GLOBAL BANKING & ADVISORY TRANSACTION BANKING SUSTAINABLE FINANCE & ESG PRODUCTS #3 Euro-denominated Green, Social and Sustainability Bonds EMEA #3 Lender Sustainable export
Slide 57: Mobility, International Retail Banking and Financial Services Q1 25 results
Mobility, International Retail Banking and Financial Services Q1 25 results International Retail Banking Mobility and Financial Services o/w Consumer finance Total In EURm Q1 25 Q1 24 Change Q1 25 Q1 24 Change Q1 25 Q1 24 Change Q1 25 Q1 24 Change Net banking income 913 1,039 +1.9%* 1,087 1,121 +0.4
Slide 58: Breakdown by region Q1 25 results
Mobility, International Retail Banking and Financial Services Breakdown by region – Q1 25 results Czech Republic Romania Africa, Mediterranean basin and Total International Retail Banking Overseas In EURm Q1 25 Q1 24 Change Q1 25 Q1 24 Change Q1 25 Q1 24 Change Q1 25 Q1 24 Change Net banking income
Slide 59: Breakdown of loans and deposits outstanding
Mobility, International Retail Banking and Financial Services Breakdown of loans and deposits outstanding Breakdown of loans outstanding end of period* Variation* Breakdown of deposits outstanding end of period* Variation* (in EURbn)(1) Q1 25 / Q1 24 (in EURbn) Q1 25 / Q1 24 17.6 +15.1%* 76.3 -0.2%*
Slide 60: Presence in Africa
Mobility, International Retail Banking and Financial Services Presence in Africa Clients NBI Net income C/I RWA 2.8m EUR 0.3bn EUR 62m 56% EUR 17bn NBI RWA Credits Deposits L/D Ratio Ranking 3M 25 (in EURm) (in EURm) (in EURm) (in EURm) Algeria 53 2,357 1,855 2,926 63% n.a. Tunisia 39 2,843 1,763 1,
Slide 61: Key ESG Ambitions
Key ESG Ambitions EUR 500 billion to support sustainable finance over the period 2024-2030 with: Sustainable finance ~ EUR 400bn financing and ~ EUR 100bn bonds ~ EUR 400bn in environmental activities and ~ EUR 100bn in social - Oil & Gas: -80% upstream exposure by 2030 vs. 2019, with an intermediar
Slide 62: 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 63: NZBA portfolio alignment targets (2/2)
NZBA portfolio alignment targets (2/2) EMISSIONS SECTOR & SCOPE METRICS SCENARIO BASELINE & TARGET SCOPE 671 673 Cement KgCO2e/tcement 535 463 -20% LIMESTONE MANUFACTURING CONCRETES CONSTRUCTION IEA’s NZE 2050 QUARRYING INDUSTRY kgCO2e/t cement(1) Scopes 1 & 2 scenario 2022 Q2 2024 2030 IEA 2030 Ste
Slide 64: External recognition in ESG
External recognition in ESG AGENCIES WORST SCORE BEST AWARDS Sector average SG World's Best Bank Transition Euromoney Strategy for the 3rd CCC B BB BBB A AA AAA 2024 consecutive year by Sector Euromoney average SG World’s Best Bank for 60+ 50 40 30 20 Low 0 Risk 19.6 Sustainable Infrastructure& Sect
Slide 65: Methodology (1/2)
Methodology (1/2) 1 – Net banking income The pillars’ net banking income is defined on page 38 of Societe Generale’s 2025 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 66: Methodology (2/2)
Methodology (2/2) 7 – Solvency and leverage ratios are calculated in accordance with applicable CRR3/CRD6 rules, including the procedures provided by the regulation for the calculation of phased-in and fully loaded ratios. The solvency ratios and leverage ratio are presented on a pro forma basis for