“The quality of the Societe Generale Group’s results in 2016 reflects the good commercial and operating performances in all its businesses and its rigorous control of costs and risks. In an uncertain environment, the Group has benefited from its well-balanced banking model, the trust shown by its customers and the commitment of its employees.
In an economic environment that is less buoyant and much more demanding on the regulatory front, we have simplified our banking model, optimised capital allocation and continued to invest in the businesses of the future, as we undertook to do in our 2014-2016 strategic plan. These efforts enable us to generally comply with the trajectory of the strategic and financial objectives set in 2014: we have demonstrated our potential for growth and operational excellence, and there has been a significant improvement in our structural profitability. The balance sheet has improved and all our regulatory capital and liquidity ratios are above the regulators’ requirements.
Based on these solid foundations, Societe Generale intends to continue with the adaptation and digital transformation of its businesses, simplify its organisational set-up and roll out its Culture and Conduct programme in 2017. The Group is also preparing a new stage in its development, with the presentation at the end of the year of a medium-term strategic plan testifying to our ability to provide even more value for our customers and shareholders.”
Frédéric Oudéa – Chief Executive Officer