Frédéric Oudéa's editorial
In Q1 14, Societe Generale continued with its transformation strategy and demonstrated the robustness of its customer-focused banking model. In an economic climate which remains uncertain, the Group posted a favourable operational performance on the whole.
The commercial business continued to perform well, in particular in Retail Banking. Thus in France, against the backdrop of a slow economic improvement, the expansion of the customer base and deposits remained strong. Revenue remained stable year-on-year (despite the drop in interest rates and the decline in overdraft fees imposed by French banking law).
2014 Q1 key figures
EUR 5.8bn* (+3.3% vs. Q1 13)
-27.1%** vs. Q1 13
Sharp decline in the cost of risk
EUR 1.3bn* (+72.8% vs. Q1 13)
Improved operating income
* Excluding non-economic items (revaluation of own financial liabilities and DVA – debt value adjustment implemented following the application of IFRS 13).
Goodwill write-down on Russian activities Group net income* reduced by EUR 941M to EUR 416M
Book Group net income
10.1% Basel 3 Common Equity Tier 1 Ratio
** When adjusted for changes in Group structure and at constant exchange rates. The variations for revenues excluding the effect of the revaluation of own financial liabilities disregard any currency impact of this revaluation.
Results by business
Expert opinion: The new global imbalances
In the mid-2000s, before the global financial crisis hit, the huge current-account imbalances between developed countries and emerging economies had generated much concern and controversy. Today, the situation is radically different. An analysis by Olivier Garnier, Group Chief Economist.
Citizen Commitment: The Citizen Commitment Games, an athletic challenge for charity
To celebrate its 150th anniversary, Societe Generale is bringing team spirit to life by inviting its employees to take part in a sporting challenge for charity. Open to all employees, the purpose of the Games is to collect donations for partner charities.
CSR: Offering a responsible, solidarity-based range of banking products
To develop our solidarity banking solutions, we promote microfinance around the world, offer new sustainable and responsible products, encourage our customers to develop a solidarity approach and provide support for vulnerable customers. Here are some examples of solidarity-based banking in action.
Measuring our performance
Find below our previous Letters to Shareholders
|February 2019||Letter to Shareholders #114 - Understanding our 2018 Annuals Results||Go to the page|
|Mai 2019||Letter to Shareholders #115 - Understanding our 2019 Q1 Results||Go to the page|
|June 2019||Letter to Shareholders #116 - Annual General Meeting held on 21 May 2019||Download PDF|
|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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