Understanding our 2014 Q1 results

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).

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.

When clients carry out sensitive transactions using their smartphone via the Societe Generale app, the Security Pass feature will appear and verify the integrity of their phone.

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.

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.