Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Debt Investor Presentation (September 2012)
70 slides from Societe Generale S.a. Class A's debt investor presentation, September 2012
Slide 1: Presentation to Debt Investors, Q2 and H1 2012
SOCIETE GENERALE PRESENTATION TO DEBT INVESTORS 2ND QUARTER AND 1ST HALF 2012 SEPTEMBER 2012
Slide 2: Disclaimer
DISCLAIMER This document may contain a number of forecasts and comments relating relating to the targets and strategies of the Societe Generale Group. These forecasts are based on a series of assumptions, assumptions, both general and specific, notably - unless specified otherwise - the application
Slide 3: Q2 and H1 2012 results, funding strategy and ratings, supplementary data
2ND QUARTER AND 1ST HALF 2012 RESULTS GROUP FUNDING STRATEGY AND RATINGS SUPPLEMENTARY DATA SEPTEMBER 2012
Slide 4: Resilient business performance and significant progress on capital
SOCIETE GENERALE GROUP RESILIENT BUSINESS PERFORMANCE AND SIGNIFICANT PROGRESS ON CAPITAL Net Banking Income EUR 6.3bn in Q2 12 Resilient underlying Group Net Income EUR 0.4bn performance Underlying* Group Net Income EUR 0.8bn Basel 2.5 Core Tier 1 ratio: 9.9%, +51bp in Q2, following +35bp in Q1 Str
Slide 5: Introduction
INTRODUCTION GROUP BUSINESSES RESULTS KEY FIGURES CONCLUSION SEPTEMBER 2012
Slide 6: EUR 0.8bn underlying Group net income
SOCIETE GENERALE GROUP EUR 0.8BN UNDERLYING* GROUP NET INCOME Group net income (in EUR m) +195 -114 -110 +145 -476 793 433 Q2 12 Legacy SG CIB core Financial Buyback Goodwill Q2 12 Underlying* assets deleveraging: liabilities and Tier 2 debt impairments Reported loan sales CDS MtM and capital gains/
Slide 7: Strong, steady progress towards Basel 3 capital requirements
SOCIETE GENERALE GROUP STRONG, STEADY PROGRESS TOWARDS BASEL 3 CAPITAL REQUIREMENTS Basel 2.5 core Tier 1 ratio (1) Basel 2.5 Core Tier 1 ratio: 9.9% up +85bp in +6 bp H1 12 +24 bp -7 bp +14 bp • Solid earnings generation +48 bp 2012 Business SG CIB Other Dividend RWAs deleveraging Net provision and
Slide 8: Significant balance sheet transformation since mid-2011
SOCIETE GENERALE GROUP SIGNIFICANT BALANCE SHEET TRANSFORMATION SINCE MID-2011 2012 long- long-term issuance split* EUR 14.2bn of long term funding raised to date* VANILLA PRIVATE PLACEMENTS • EUR 17bn total amount including prefunding done in 2011 SENIOR PUBLIC 6% 28% SECURITISATION ISSUES 8% • 201
Slide 9: Consolidated results
SOCIETE GENERALE GROUP CONSOLIDATED RESULTS Resilient Net Banking Income: EUR 6.3bn in Q2 12 • Impact of revaluation of own financial liabilities: EUR +206m In EUR m Q2 11 Q2 12 Change H1 11 H1 12 Change • Buyback of hybrid debt: EUR +305m Net banking income 6,503 6,272 -3.6% -5.0%* 13,122 12,583 -4
Slide 10: Cost of risk under control
SOCIETE GENERALE GROUP COST OF RISK UNDER CONTROL Cost of risk French Networks (in bp)* Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 • Stable in a deteriorating economic environment 50 44 45 36 37 FRENCH NETWORKS International Retail Banking • One-off increase in Russia following reassessment 206 181 211 178 INTER
Slide 11: GIIPS exposure further reduced
SOCIETE GENERALE GROUP GIIPS EXPOSURE FURTHER REDUCED Exposure to sovereign risk in the banking book* Banking book exposure to GIIPS sovereigns: (in EUR bn) bn) EUR 2.4bn* at end-June 2012 2.9 2.5 2.4 TOTAL 0.3 • Very low residual exposure to Greece and Portugal (total 0.2 exposure below EUR 40m) 0.
Slide 12: Group businesses results
INTRODUCTION GROUP BUSINESSES RESULTS KEY FIGURES CONCLUSION SEPTEMBER 2012
Slide 13: French Networks: solid results in a slow growth environment
FRENCH NETWORKS SOLID RESULTS IN A SLOW GROWTH ENVIRONMENT Sound business performance in Q2 12 Loans and deposits (in EUR bn) bn) • Deposits up : +3.4% vs. Q2 11 • Loan outstandings up : +3.8% vs. Q2 11 174 175 176 169 171 ~ 68,000 loans granted to business customers for a total 136 136 137 141 LOAN
Slide 14: International Retail Banking: Q2 net income marked by non-recurring items
INTERNATIONAL RETAIL BANKING Q2 12 GROUP NET INCOME MARKED BY NON-RECURRING ITEMS Overall dynamic commercial activity: Loan outstandings: +5.3%* Jun. 12 vs. Jun. 11 • Continued growth in loans (+5.3%*) and deposits GREECE: (+6.9%*), except in Romania due to economic situation ROMANIA: -34.2%* +0.9%*
Slide 15: Russia: ongoing transformation
INTERNATIONAL RETAIL BANKING RUSSIA: ONGOING TRANSFORMATION Commercial activity benefiting from business Loan outstandings* outstandings* (in EUR bn) bn) optimisation and synergies • Growth of corporate loan portfolio • Strong production of mortgage and consumer loans PRIVATE • Development of fee in
Slide 16: Corporate and Investment Banking: sound performance despite deteriorated markets
CORPORATE AND INVESTMENT BANKING SOUND PERFORMANCE DESPITE DETERIORATED MARKET CONDITIONS NBI on core activities Global Markets: satisfactory commercial (in EUR bn) bn) performance 1.8 1.2 1.2 1.9 1.3 TOTAL • Fixed Income, currencies and commodities: decent FIXED INCOME, revenues in an unstable mark
Slide 17: Delivering on transformation
CORPORATE & INVESTMENT BANKING DELIVERING ON TRANSFORMATION Loan sales since mid-2011: EUR 13.7bn* o/w Loan sales* (in EUR bn) bn) EUR 10.1bn settled(1) Q3 11 Q4 11 Q1 12 Q2 12 • Q2 12: EUR -2.8bn*, EUR -159m** NBI impact -0.8 • H1 12: EUR -7,7bn* at 5% average net discount -2.8 -5.2 -4.9 Operating
Slide 18: Legacy assets: deleveraging focused on non investment grade assets
CORPORATE & INVESTMENT BANKING LEGACY ASSETS: DELEVERAGING FOCUSED ON NON INVESTMENT GRADE ASSETS Evolution of Net Book Value and Basel 3 * Overall reduction of EUR -2.2bn in Q2 12 pro- pro-forma capital consumption (in EUR bn) bn) • EUR -1.6bn* disposals at limited cost Net Book Value** Capital** •
Slide 19: Specialised Financial Services and Insurance: overall strong performance
SPECIALISED FINANCIAL SERVICES AND INSURANCE OVERALL STRONG PERFORMANCE MAINTAINED Group Net Income Insurance: continued revenue growth (in EUR m) • Life: stable outstandings and market share (1) (1) 146 147 123 163 167 TOTAL • Personal Protection, Property and Casualty: strong growth in premiums SP
Slide 20: Private Banking, Global Investment Management and Services: resilient Q2 12
PRIVATE BANKING, GLOBAL INVESTMENT MANAGEMENT AND SERVICES RESILIENT Q2 12 BUSINESS CONTRIBUTION Private Banking Private Banking: Assets under Management • Business revenues down -5,7%(1) vs. Q2 11 (in EUR bn) • EUR +0.9bn Q2 12 net inflows Securities Services 84.5 84.7 85.6 • Continued positive com
Slide 21: Key figures
INTRODUCTION GROUP BUSINESSES RESULTS KEY FIGURES CONCLUSION SEPTEMBER 2012
Slide 22: Key figures
SOCIETE GENERALE GROUP KEY FIGURES Chg Chg Chg Q2 12 H1 12 Q2 vs. Q1 Q2 vs. Q2 H1 vs. H1 Net banking income 6,272 -0.6% -3.6% 12,583 -4.1% Operating expenses (3,986) -8.0% -6.0% (8,319) -3.5% Net cost of risk (822) -8.9% -30.6% (1,724) -16.4% Financial results Group net income 433 -40.8% -42.0% 1,16
Slide 23: Conclusion
INTRODUCTION GROUP BUSINESSES RESULTS KEY FIGURES CONCLUSION SEPTEMBER 2012
Slide 24: Demonstrated ability to transform the Group
SOCIETE GENERALE GROUP DEMONSTRATED ABILITY TO TRANSFORM THE GROUP Our businesses are showing good resilience in the crisis Our balance sheet structure and capital situation have been significantly strengthened, reducing reliance on short term funding, raising our Basel 2.5 Core Tier 1 ratio to 9.9%
Slide 25: Group funding strategy and ratings
2ND QUARTER AND 1ST HALF 2012 RESULTS GROUP FUNDING STRATEGY AND RATINGS SUPPLEMENTARY DATA SEPTEMBER 2012
Slide 26: 2012 long term funding program completed
GROUP FUNDING STRATEGY AND RATINGS 2012 LONG TERM FUNDING PROGRAM COMPLETED Beyond the EUR 2.6bn of 2011 prefunding, the Group raised EUR 16.5bn as of 31 August: • EUR 6.1bn of unsecured vanilla funding (o/w EUR 4.9bn through benchmark transactions, and EUR 1.2bn through vanilla unstructured private
Slide 27: Long term funding program: funding mix
GROUP FUNDING STRATEGY AND RATINGS LONG TERM FUNDING PROGRAM – FUNDING MIX In Q3 2012, the Group pursues its diversification strategy with: • a second securitisation transaction: CGI securitisation of French Auto Loan for 500 MEUR, • a second benchmark in the Dim Sum market: a 2-year 500M CNH at com
Slide 28: Long term funding program: repayment schedule
GROUP FUNDING STRATEGY AND RATINGS LONG TERM FUNDING PROGRAM – REPAYMENT SCHEDULE A regular repayment schedule, with more than 60% of the outstanding maturing beyond 2014 In EUR bn 25 22.6 20 18.1 15 13.6 11.0 10.7 10 9.1 8.1 7.0 6.2 5.1 4.5 4.9 5 3.1 0 2, 2, 2, 2, 2, 2, 2, 2, 2, 2, 2, Be be 01 01 0
Slide 29: 2012: secured funding
GROUP FUNDING STRATEGY AND RATINGS 2012 : SECURED FUNDING As of end of August 2012, secured issuances represent 21% of the Group’s Funding program SG SCF (Société de Crédit Foncier) • Inaugural issuance from SG SCF in 2008 • Benefits from a specific legal framework • Cover pool exclusively includes
Slide 30: Current SG Group credit ratings
GROUP FUNDING STRATEGY AND RATINGS CURRENT SG GROUP CREDIT RATINGS Standard & Poor's Moody's Fitch Ratings Latest rating report date 23/01/2012 21/06/2012 15/12/2011 Senior Long-term debt A A2 A+ Outlook Stable Stable Negative Lower Tier 2 BBB+ Baa3 BBB+ Hybrid Tier 1 BBB/BBB- Ba1 (hyb) / Ba2 (hyb)
Slide 31: Credit ratings: peer review
GROUP FUNDING STRATEGY AND RATINGS CREDIT RATINGS: PEER REVIEW As of 03/09/2012 S&P Moody's FitchRatings LT rating Outlook ST rating LT rating Outlook ST rating LT rating Outlook ST rating BNP Paribas AA- Negative A-1+ A2 Stable P-1 A+ Stable F1+ Deutsche Bank A+ Negative A-1 A2 Stable P-1 A+ Stable
Slide 32: Appendix: SG SCF covered bond programme
GROUP FUNDING STRATEGY AND RATINGS APPENDIX: SG SCF COVERED BOND PROGRAMME • Société Générale SCF (Société de Crédit Foncier) has been established in October 2007. The inaugural issuance took place in May 2008 Program Term • EUR 15bn EMTN program • Rated AAA (S&P) / Aaa (Moody’s) • Listing: Euronext
Slide 33: Appendix: SG SFH covered bond programme
GROUP FUNDING STRATEGY AND RATINGS APPENDIX: SG SFH COVERED BOND PROGRAMME • Société Générale SFH (Société de Financement de l’Habitat) was created in April 2011 • The inaugural issuance took place in May 2011 Program • EUR 25bn EMTN Program • Listing: Euronext Paris At SG SFH level (following restr
Slide 34: Appendix: SG SFH cover-pool characteristics
GROUP FUNDING STRATEGY AND RATINGS APPENDIX:SG SFH COVER-POOL CHARACTERISTICS Loan type 100% prime French residential loans guaranteed by Crédit Logement (AA-/Aa2) Pool size EUR 24.5bn Number of loans 346,606 (average EUR 70,615 balance remaining per loan) Current WA LTV 54.48% WA Seasoning 51 month
Slide 35: Supplementary data
2ND QUARTER AND 1ST HALF 2012 RESULTS GROUP FUNDING STRATEGY AND RATINGS SUPPLEMENTARY DATA SEPTEMBER 2012
Slide 36: Quarterly income statement by core business
SUPPLEMENT - SOCIETE GENERALE GROUP QUARTERLY INCOME STATEMENT BY CORE BUSINESS Private Banking, Specialised Global Corporate & Financial Investment French International Investment Services & Management Corporate In EUR m Networks Retail Banking Banking Insurance and Services Centre Group Q2 11 Q2 1
Slide 37: Half year income statement by core business
SUPPLEMENT - SOCIETE GENERALE GROUP HALF YEAR INCOME STATEMENT BY CORE BUSINESS Private Banking, Specialised Global Corporate & Financial Investment French International Investment Services & Management In EUR m Networks Retail Banking Banking Insurance and Services Corporate Centre Group H1 11 H1 1
Slide 38: Legacy assets, non economic and non recurring items
SUPPLEMENT - SOCIETE GENERALE GROUP LEGACY ASSETS, NON ECONOMIC AND NON RECURRING ITEMS Net banking Operating Group net Q2 12 income expenses Others Cost of risk income Legacy assets (112) (14) (1) (38) (114) Corporate & Investment Banking SG CIB core deleveraging (159)* (110) Corporate & Investment
Slide 39: Change in gross book outstandings excluding legacy assets
SUPPLEMENT - SOCIETE GENERALE GROUP CHANGE IN GROSS BOOK OUTSTANDINGS* EXCLUDING LEGACY ASSETS End of period in EUR bn Specialised Financial Services 429.9 434.0 439.3 430.8 434.9 and Insurance 415.4 426.0 425.5 405.4 413.3 52.1 51.7 52.0 51.8 52.2 51.8 52.5 Private Banking, 51.3 51.7 50.1 28.4 26.9
Slide 40: Doubtful loans (including credit institutions)
SUPPLEMENT – RISK MANAGEMENT DOUBTFUL LOANS* (INCLUDING CREDIT INSTITUTIONS) 31/12/2011 31/03/2012 30/06/2012 Customer loans in EUR bn * 425.5 430.8 434.9 Doubtful loans in EUR bn * 24.1 25.6 26.3 Collateral relating to loans written down in EUR bn * 4.7 5.4 6.1 Provisionable commitments in EUR bn *
Slide 41: Basel 2.5 (CRD3) risk-weighted assets
SUPPLEMENT – APPLICATION OF THE BASEL 2 REFORM BASEL 2.5 (CRD3) RISK-WEIGHTED ASSETS (in EUR bn) TOTAL 85.5 87.2 74.4 75.1 106.4 95.5 17.4 18.4 41.6 41.5 16.4 17.7 7.3 7.1 349.0 342.5 23.2 3.0 43.7 43.4 3.0 0.1 0.1 23.2 36.6 28.8 3.7 3.7 0.5 0.1 26.4 OPERATIONAL 18.9 MARKET CREDIT 2.4 2.4 82.3 84.1
Slide 42: Calculation of ROE and Tier 1 equity
SUPPLEMENT – APPLICATION OF THE BASEL 2 REFORM CALCULATION OF ROE AND TIER 1 EQUITY Data at end-June 2012 (in EUR bn) Management adjustment Prudential adjustment +0.0 OCI Deeply- subordinated Undated sub. 48.5 notes notes +5.5 Basel 2 -5.5 Deeply- -0.5 Goodwill deductions 42.5 subordinated Fixed ass
Slide 43: Breakdown of SG Group commitments by sector at 30 June 2012
SUPPLEMENT – RISK MANAGEMENT BREAKDOWN OF SG GROUP COMMITMENTS BY SECTOR AT 30 JUNE 2012 Transport & logistics 8.9% Finance & insurance Telecoms 15.4% Real Estate EAD Corporate: Personnel & 3.2% 8.1% domestic services EUR 286bn* 0.1% Public administration 0.1% Collective services Food & agriculture
Slide 44: Breakdown of SG Group commitments by region at 30 June 2012
SUPPLEMENT – RISK MANAGEMENT BREAKDOWN OF SG GROUP COMMITMENTS BY SECTOR AT 30 JUNE 2012 On- and off-balance sheet EAD* On-balance sheet EAD* All customers included: EUR 717bn All customers included: EUR 569bn Latin America and Latin America Caribbean 2% Africa and and Africa and Asia-Pacific Middle
Slide 45: GIIPS sovereign exposures
SUPPLEMENT – RISK MANAGEMENT GIIPS SOVEREIGN EXPOSURES Net exposures(1) (in EUR bn) bn) 30.06.2012 31.03.2012 o.w. positions in o.w. positions in o.w. positions in o.w. positions in Total (2) Total (2) banking book (1) trading book (3) banking book (1) trading book (3) Greece 0.0 0.0 0.0 0.1 0.1 0.0
Slide 46: Insurance subsidiaries' exposures to GIIPS sovereign risk
SUPPLEMENT – RISK MANAGEMENT INSURANCE SUBSIDIARIES' EXPOSURES TO GIIPS SOVEREIGN RISK Exposures (in EUR bn) bn) 30.06.2012 31.03.2012 Gross exposure Net exposure Gross exposure Net exposure (1) (2) (1) (2) Greece 0,0 0,0 0,0 0,0 Ireland 0,5 0,0 0,5 0,0 Italy 2,4 0,1 2,4 0,1 Portugal 0,2 0,0 0,2 0,0
Slide 47: Group exposure to GIIPS non sovereign risk
SUPPLEMENT – RISK MANAGEMENT GROUP EXPOSURE TO GIIPS NON SOVEREIGN RISK (a) On and off balance sheet EAD (in EUR bn) bn) 2.7 2.7 14.2 0.9 10.1 5.1 0.4 RETAIL 0.2 SECURITISATION CORPORATES 7.4 6.7 FINANCIAL INSTITUTIONS (INCL. LOCAL GOVERNMENTS) (b) 1.1 0.8 1.5 2.2 2.3 1.5 0.7 0.4 0.2 GREECE IRELAND
Slide 48: Change in trading VaR
SUPPLEMENT – RISK MANAGEMENT CHANGE IN TRADING VAR* Quarterly average of 1-day, 99% Trading VaR (in EUR m) 45 45 46 42 41 34 30 27 27 25 Trading VaR 19 22 22 Credit 17 18 16 16 18 26 21 31 35 Fixed income 17 19 32 31 34 18 30 17 11 29 31 27 20 14 13 10 Equity 25 25 20 23 27 32 26 24 8 12 13 13 Forex
Slide 49: French Networks: change in net banking income
SUPPLEMENT – FRENCH NETWORKS CHANGE IN NET BANKING INCOME Commissions: -4.3% vs. Q2 11 • Financial commissions: -16.4% • Service commissions: -0.5% Interest margin: +3.7%(a) vs. Q2 11 2,038 2,035 2,054 2,046 2,037 NBI in EUR m • Average deposit outstandings: +3.4% • Average loan outstandings: +3.8%
Slide 50: Customer deposits and financial savings
SUPPLEMENT – FRENCH NETWORKS CUSTOMER DEPOSITS AND FINANCIAL SAVINGS Change Average outstandings Q2 12 vs. Q2 11 in EUR bn 250.2 245.0 244.5 246.9 -1.3% 238.6 LIFE INSURANCE Financial 80.4 79.8 80.0 79.8 -0.7% savings : 79.1 EUR 106.0bn MUTUAL FUNDS -7.0% 31.6 27.6 24.4 -22.6% OTHERS 26.2 26.1 (SG r
Slide 51: Loan outstandings
SUPPLEMENT – FRENCH NETWORKS LOAN OUSTANDINGS Average outstandings in EUR bn Change Q2 12 vs. Q2 11 171.1 173.6 175.1 175.8 +3.8% 169.3 INDIVIDUAL CUSTOMERS o.w.: - HOUSING 84.7 81.9 83.1 83.8 85.1 +3.9% - CONSUMER CREDIT AND OVERDRAFT 9.9 9.9 9.9 9.7 9.7 -2.3% BUSINESS CUSTOMERS* +4.4% 78.3 79.0 79
Slide 52: Quarterly results of International Retail Banking by geographic zone
SUPPLEMENT – INTERNATIONAL RETAIL BANKING QUARTERLY RESULTS OF INTERNATIONAL RETAIL BANKING BY GEOGRAPHIC ZONE Sub-sah. Czech Mediterranean Africa, French Romania Russia Other CEE Republic Basin territories and Others In EUR m Q2 11 Q2 12 Q2 11 Q2 12 Q2 11 Q2 12 Q2 11 Q2 12 Q2 11 Q2 12 Q2 11 Q2 12 N
Slide 53: Half year results of International Retail Banking by geographic zone
SUPPLEMENT – INTERNATIONAL RETAIL BANKING HALF YEAR RESULTS OF INTERNATIONAL RETAIL BANKING BY GEOGRAPHIC ZONE Sub-sah. Czech Mediterranean Africa, French Romania Russia Other CEE Republic Basin territories and Others In EUR m H1 11 H1 12 H1 11 H1 12 H1 11 H1 12 H1 11 H1 12 H1 11 H1 12 H1 11 H1 12 N
Slide 54: Indicators of major subsidiaries at end-June 2012
SUPPLEMENT – INTERNATIONAL RETAIL BANKING INDICATORS OF MAJOR SUBSIDIARIES AT END-JUNE 2012 Loan to Group share of Ownership Credit Loans*(1) Deposits*(1) deposit ratio the Market percentage RWAs*(1) (as % )(1) capitalistion* Russia 82.4% 11,823 9,786 8,211 119.2% - (Universal bank) Russia 82.4% 611
Slide 55: Corporate and Investment Banking: quarterly income statement
SUPPLEMENT – CORPORATE AND INVESTMENT BANKING QUARTERLY INCOME STATEMENT Total Corporate and Core activities Legacy assets Investment Banking Q2 11 Q2 12 Change Q2 11 Q2 12 Change Q2 11 Q2 12 Change Net banking income 1,792 1,335 -26% 43 (112) NM 1,835 1,223 -33% -36%* o.w. Financing & Advisory 655
Slide 56: Corporate and Investment Banking: half year income statement
SUPPLEMENT – CORPORATE AND INVESTMENT BANKING HALF YEAR INCOME STATEMENT Total Corporate and Core activities Legacy assets Investment Banking H1 11 H1 12 Change H1 11 H1 12 Change H1 11 H1 12 Change Net banking income 4,030 3,259 -19% 85 (169) NM 4,115 3,090 -25% -26%* o.w. Financing & Advisory 1,29
Slide 57: League tables, rankings, awards
SUPPLEMENT – CORPORATE & INVESTMENT BANKING LEAGUE TABLES - RANKINGS - AWARDS Financing and advisory Global markets DEBT CAPITAL MARKETS 2012* 2011 2010 FIXED INCOME & CURRENCIES 2012 2011 2010 League Tables Rankings IFR (As of June 30th 2012) Euromoney - FX Poll All-International Euro-denominated B
Slide 58: Legacy assets: summary of exposures as of 30 June 2012
SUPPLEMENT – CORPORATE AND INVESTMENT BANKING LEGACY ASSETS – SUMMARY OF EXPOSURES AS OF 30 JUNE 2012 o.w. monoline Banking Trading Total and CDPC in EUR bn Basel 3 capital Net Discount Net Discount Net Nominal Nominal Net exposure exposure rate exposure rate exposure US residential market related a
Slide 59: Legacy assets: external valuation of banking book positions
SUPPLEMENT – CORPORATE AND INVESTMENT BANKING LEGACY ASSETS – EXTERNAL VALUATION* OF OUR BANKING BOOK POSITIONS External valuation of positions EUR +1.0bn higher than their book value EUR -0.5bn OCI impact US RMBS CDOs: only asset class for already included in SG which external credit valuation is l
Slide 60: Legacy assets: income statement
SUPPLEMENT – CORPORATE AND INVESTMENT BANKING LEGACY ASSETS – INCOME STATEMENT In EUR m Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 NBI of legacy assets 42 43 -37 -524 -57 -112 o.w. Losses and writedowns of exotic credit derivatives 19 -10 52 -84 -59 -41 Corporate and LCDX macrohedging 5 -4 1 0 0 0 Writedow
Slide 61: Specialised Financial Services and Insurance: key figures
SUPPLEMENT – SPECIALISED FINANCIAL SERVICES AND INSURANCE KEY FIGURES Loan outstandings Number of vehicles Change (in EUR bn) bn) Change (in thousands) Q2 12 vs. Q2 11 Q2 12 vs. Q2 11 931 +5.8%** 878 898 917 922 EQUIPMENT 216 222 226 225 225 18,1 18,0 18,5 18,2 18,2 -1.7%* FINANCE (1) FLEET MANAGEME
Slide 62: Private Banking, Global Investment Management and Services: quarterly income statement
SUPPLEMENT – PRIVATE BANKING, GLOBAL INVESTMENT MANAGEMENT AND SERVICES QUARTERLY INCOME STATEMENT Total Private Banking, Global Private Banking Asset Management SG SS, Brokers Investment Management and Services Q2 11 Q2 12 Change Q2 11 Q2 12 Change Q2 11 Q2 12 Change Q2 11 Q2 12 Change Net banking
Slide 63: Private Banking, Global Investment Management and Services: half year income statement
SUPPLEMENT – PRIVATE BANKING, GLOBAL INVESTMENT MANAGEMENT AND SERVICES HALF YEAR INCOME STATEMENT Total Private Banking, Global Private Banking Asset Management SG SS, Brokers Investment Management and Services H1 11 H1 12 Change H1 11 H1 12 Change H1 11 H1 12 Change H1 11 H1 12 Change Net banking
Slide 64: Private Banking, Global Investment Management and Services: key figures
SUPPLEMENT – PRIVATE BANKING, GLOBAL INVESTMENT MANAGEMENT AND SERVICES KEY FIGURES Private Banking: Assets under Management Asset Management: Assets under Management (in EUR bn) (in EUR bn) 101.1 86.1 95.9 85.4 85.6 91.0 84.7 82.7 84.4 83.6 JUNE 11 SEPT-11 DEC-11 MAR-12 JUNE 12 JUNE 11 SEPT-11 DEC-
Slide 65: Corporate Centre
SOCIETE GENERALE GROUP CORPORATE CENTRE* Corporate Centre Income Statement (in EUR m) Q2 11 Q2 12 H1 11 H1 12 Gross operating income (122) 342 (508) 43 o.w. CDS MtM 1 13 (4) (19) o.w. financial liabilities 16 206 (346) 24 Net cost of risk (384) 1 (401) (21) Net profits or losses from other assets 1
Slide 66: Determination of number of shares used to calculate EPS
TECHNICAL SUPPLEMENT DETERMINATION OF NUMBER OF SHARES USED TO CALCULATE EPS Average number of shares (thousands) 2010 2011 H1 12 Existing shares 742,917 763,065 777,477 Deductions Shares allocated to cover stock options awarded to staff and restricted 11,703 9,595 8,646 shares awarded Other treasur
Slide 67: Determination of number of shares used to calculate NAPS
TECHNICAL SUPPLEMENT DETERMINATION OF NUMBER OF SHARES USED TO CALCULATE NAPS Number of shares at end of period (thousands) 2010 2011 H1 12 Existing shares 746,422 776,080 780,271 Deductions Shares allocated to cover stock options awarded to staff and restricted 12,283 9,003 8,399 shares awarded Oth
Slide 68: Methodology (1/2)
TECHNICAL SUPPLEMENT METHODOLOGY (1/2) 1- The Group’s condensed consolidated accounts at 30 June 2012 thus prepared were examined by the Board of Directors on 31 July 2012. The financial information presented for the six-month period ending 30 June 2012 has been prepared in accordance with IFRS as a
Slide 69: Methodology (2/2)
TECHNICAL SUPPLEMENT METHODOLOGY (2/2) 4- Net assets are comprised of Group shareholders’ equity, excluding (i) deeply subordinated notes (EUR 5.4 billion), undated subordinated notes previously recognised as debt (EUR 0.5 billion) and (ii) interest payable to holders of deeply subordinated notes an
Slide 70: Investor Relations team
INVESTOR RELATIONS TEAM HANS VAN BEECK, STÉPHANE DEMON, MURIEL KHAWAM, CLAIRE LANGEVIN, LUDOVIC WEITZ +33 (0) 1 42 14 47 72 investor.relations@socgen.com www.investor.socgen.com SEPTEMBER 2012 | P.2
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