Frédéric Oudéa's editorial
Societe Generale enjoyed a good first quarter in 2015. Our results testify to our ability to develop a profitable growth model adapted to the needs of our customers and the new regulatory constraints. Our revenues were underpinned by the commercial dynamism of all our businesses.
In an environment that remains uncertain, the Group is therefore continuing with the determined and disciplined implementation of its strategic plan.
Results by business
Societe Generale strengthens its leadership in Africa and accelerates its growth
Our strategy in Africa aims to speed up the Group’s growth on the continent. The development plan draws on the region's strong potential for growth and for banking penetration, and on major commercial and operational synergies between the Group's core businesses.
Strengthening our commitment to assist young people entering the job market
Societe Generale is combining its civic and patronage commitments to promote the integration of young people through sport and cultural activities.
APPLICATION OF THE NEW ACCOUNTING STANDARD AND NEW REGULATORY
TLAC: The TLAC “Total Loss Absorbency Capacity” is a ratio which contents will definitely be known in November 2015 at the latest, once the final rules are released by the Financial Stability Board. It will frame the minimum amount of regulatory capital and eligible debts to the ratio (long term debts mostly including strong subordination features) that each Global Systematically Important Bank will have to hold, thus making possible the exercise of the bail-in powers to recapitalize the firm in case of a possible entry into resolution.
IFRIC 21: Under IFRIC 21, which took effect on 1 January 2015, all taxes due must be recorded once the obligating event has occurred, whereas previously they could be spread out over the entire year.
Single Resolution Fund (SRF): The regulation governing the single resolution system for the euro zone calls for the establishment of a single resolution fund in the amount of 1% of all euro zone covered deposits within 9 years, for an estimated total of EUR55 billion. Societe Generale's contribution was pro-rated for the share of the bank's balance sheet (excluding shareholders' equity and covered deposits) relative to the total for all equivalent euro zone balance sheets.
Measuring our performance
Find below our previous Letters to Shareholders
|February 2020||Letter to Shareholders #119 - Understanding our Annual Results 2019||Go to the page|
|May 2020||Letter to Shareholders #120 - Understanding our Q1 2020 Results||Go to the page|
|June 2020||Letter to Shareholders #121 - Annual General Meeting held on 19 May 2020||Download PDF|
|February 2019||Letter to Shareholders #114 - Understanding our Annual Results 2018||Go to the page|
|Mai 2019||Letter to Shareholders #115 - Understanding our Q1 2019 Results||Go to the page|
|June 2019||Letter to Shareholders #116 - Annual General Meeting held on 21 May 2019||Download PDF|
|August 2019||Letter to Shareholders #117 - Understanding our Q2 2019 Results||Go to the page|
|November 2019||Letter to Shareholders #118 - Understanding our Q3 2019 Results||Go to the page|
|November 2018||Letter to Shareholders #113 - Understanding our 2018 Q3 Results||Go to the page|
|August 2018||Letter to Shareholders #112 - Understanding our 2018 Q2 Results||Go to the page|
|June 2018||Letter to Shareholders #111 - Annual General Meeting held on 23 May 2018||Download PDF|
|May 2018||Letter to Shareholders #110 - Understanding our 2018 Q1 Results||Go to the page|
|February 2018||Letter to Shareholders #109 - Understanding our 2017 Annual Results||Go to the page|
|November 2017||Letter to Shareholders #108 - Understanding our 2017 Q3 Results||Go to the page|
|August 2017||Letter to Shareholders #107 - Understanding our 2017 Q2 Results||Go to the page|
|June 2017||Letter to Shareholders #106 - Annual General Meeting held on 23 May 2017||Download PDF|
|May 2017||Letter to Shareholders #105 - Understanding our 2017 Q1 Results||Go to the page|
|February 2017||Letter to Shareholders #104 - Understanding our 2016 Annual Results||Go to the page|
|November 2016||Letter to Shareholders #103 - Understanding our 2016 Q3 Results||Go to the page|
|August 2016||Letter to Shareholders #102 - Understanding our 2016 Q2 Results||Go to the page|
|June 2016||Letter to Shareholders #101 - Annual General Meeting held on 18 May 2016||Download PDF|
|May 2016||Letter to Shareholders #100 - Understanding our 2016 Q1 Results||Go to the page|
|February 2016||Letter to Shareholders #99 - Understanding our 2015 Annual Results||Go to the page|
|November 2015||Letter to Shareholders #98 - Understanding our 2015 Q3 Results||Go to the page|
|August 2015||Letter to Shareholders #97 - Understanding our 2015 Q2 Results||Go to the page|
|June 2015||Letter to Shareholders #96 - Annual General Meeting held on 19 May 2015||Download PDF|
|May 2015||Letter to Shareholders #95 - Understanding our 2015 Q1 Results||Go to the page|
|February 2015||Letter to Shareholders #94 - Understanding our 2014 annual Results||Go to the page|
|November 2014||Letter to Shareholders #93 - Understanding our 2014 Q3 Results||Go to the page|
|August 2014||Letter to Shareholders #92 - Understanding our 2014 Q2 Results||Go to the page|
|June 2014||Letter to Shareholders #91 - Annual General Meeting held on 20 May 2014||Download PDF|
|May 2014||Letter to Shareholders #90 - Understanding our 2014 Q1 Results||Go to the page|
|February 2014||Letter to Shareholders #89 - Understanding our 2013 Q4 & annual Results||Go to the page|
|November 2013||Letter to Shareholders #88 - 2013 Q3 Results (in French only)||Download PDF|
|August 2013||Letter to Shareholders #87 - 2013 Q2 Results (in French only)||Download PDF|
|June 2013||Letter to Shareholders #86 - 2013 Q1 Results (in French only)||Download PDF|
|February 2013||Letter to Shareholders #85 - 2012 Q4 & annual Results (in French only)||Download PDF|
|November 2012||Letter to Shareholders #84 - 2012 Q3 Results (in French only)||Download PDF|
|August 2012||Letter to Shareholders #83 - 2012 Q2 Results (in French only)||Download PDF|
|June 2012||Letter to Shareholders #82 - 2012 Q1 Results (in French only)||Download PDF|
|February 2012||Letter to Shareholders #81 - 2011 Q4 & annual Results (in French only)||Download PDF|
|November 2011||Letter to Shareholders #80 - 2011 Q3 Results (in French only)||Download PDF|
|August 2011||Letter to Shareholders #79 - 2011 Q2 Results (in French only)||Download PDF|
|June 2011||Letter to Shareholders #78 - 2011 Q1 Results (in French only)||Download PDF|
|March 2011||Letter to Shareholders #77 - 2010 Q4 & annual Results (in French only)||Download PDF|
Subscribe and receive every quarter the electronic version of the Letter to Shareholders and all the financial and strategic news.