Frédéric Oudéa's editorial
Societe Generale has produced very good results during the first half of 2015 due to the commercial dynamism of all the businesses. At the same time, our Group has continued to strengthen its balance sheet. We are therefore well positioned to capitalise on the economic recovery in Europe.
All our Group’s businesses are in line with their targets, with the sole exception of Russia where the situation is gradually normalising.
Results by business
The evolution of corporate financing
In the Eurozone, businesses* usually finance their debt through bank loans for the first two thirds of the amount and bond issues for the remaining third. It's the exact opposite in the United States, with two thirds of corporate debt financed through the markets.
Committed to entrepreneurs
Societe Generale's commitment to entrepreneurs means helping their companies grow and contributing to their long-term success. Leveraging its strong local presence and its committed teams, Societe Generale works side by side with entrepreneurs, assisting with day-to-day management and supporting them at key junctures.
The connected bank, partner of the 2015 "Futur en Seine" Festival
As the first and only bank to be a partner of “Futur en Seine”, Societe Generale had its own stand from 11 to 14 June at the largest digital festival in Europe. Each year, “Futur en Seine” showcases the latest French and international digital innovations for professionals and the general public alike.
"Best Private Bank in Europe" – once again!
Societe Generale Private Banking has won another major award, receiving the title of “Outstanding Private Bank – Europe” from Private Banker International magazine. The award comes just after April's awards from WealthBriefing as a continued recognition of Societe Generale Private Banking's leadership in wealth management and of the professionalism of its teams.
Countdown to Rugby World Cup 2015
On 18 September, England will play Fiji in the inaugural match of the Rugby World Cup, of which Societe Generale is a Worldwide Partner. Are you ready to live and breathe rugby? Meet the people already getting ready for the event, get an inside view of the recent Group events, and test your knowledge with the first episodes of "Do you speak rugby?".
"Citizen Commitment Time", an international solidarity relay event
“Citizen Commitment Time”, Societe Generale's main solidarity initiative, was held from April to the start of July. Overall, 109 events were organised in 38 of the countries where the Group is present, with more than 6,800 employees giving their time and energy to support different associations. They covered more than 88,000 kilometres in the sporting and solidarity challenges and more than €431,000 were raised in support of the Group's partner associations who use sports or cultural activities to promote the integration of people in difficulty.
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
|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 Annuals 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 Annuals 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|
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