Societe Generale SA (SCGLF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Société Générale conference call. Gentlemen, please go ahead. Good morning, everyone. Welcome to our nine-month 2025 financial results presentation. I am pleased you could join us today. In line with previous quarters, we are once again achieving a solid performance. The financial indicators remain above our annual financial targets. Our quarterly and nine-month revenues have grown significantly compared to last year. This is happening while we continue to demonstrate discipline with regards to RWA organic growth, strict cost control, and risk management. Over the first nine months of the year, revenues were up by 6.7% compared to last year, reaching €20.5 billion, at the end of September, excluding asset disposals. This highlights the strength and relevance of our commercial franchises and validates our strategic decision to be a more compact and synergistic group that focuses on its strengths. At the same time, we remain committed to reducing our cost base in a structural and sustainable manner. costs are down by more than 2% for the first nine months of the year, excluding asset disposals versus nine months 24. The result, very strong positive draws and the cost-to-income ratio of 63.3% over the first nine months of the year. That's better than our 2025 target of below 65%. In terms of credit risk, For the first nine months, the cost of risk remains in line with our guidance at 25 basis points. Asset quality remains sound as we continue to navigate the macro environment. Overall, the group net income reached €4.6 billion in nine months 25 and a group return on tangible equity of 10.5%. That represents an increase by 3.4 percentage points versus nine months 24. And it puts us well on track to meet our 2025 target of a ROTI aroun...