Understanding our 1st Quarter 2018 Results

Frédéric Oudéa's editorial

Our Group is continuing with its far-reaching transformation and at the start of the implementation of the 2018-2020 “Transform to Grow” strategic plan, Q1 2018 results are posted in line with our strategic ambitions. Commercial performances are solid for the majority of our businesses, particularly in Retail Banking, and despite the mixed trend in the different market activities, the Group generated very encouraging underlying profitability.

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Key Figures

Expert view

Bitcoins, cash and tulips

Bitcoins generated much excitement in 2017, starting off the year valued at just over $1 000 per bitcoin and closing the year at around $10 000, having peaked at close to $19 000 in mid-December 2017. While the extreme volatility of Bitcoin generates both spectacular gains and devastating losses, it significantly reduces the ability of the crypto-currency to serve as a means of payment; the purpose for which it was originally designed. Michala Marcussen, Group Chief Economist, explains the latest trends around the bitcoin.

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Innovation

The major intrapreneurship programme: Internal Startup Call

Societe Generale has launched a major intrapreneurship programme known as Internal Startup Call. Open to all Societe Generale Group employees worldwide, starting this week, the Internal Startup Call is designed to give everyone the resources they need to invent new disruptive activities that offer strong potential for the Group. February 16th, was held 144 teams, from a number of different countries and entities, defended their projects in front of the members of the Group's Management Committee. This event took place at "Le Plateau" innovation space at The Dunes complex to the east of Paris.

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Positive transformations

Pioneering bonds in Germany to fight climate change

When the German bank LBBW launched a €750 million 4-year Climate Bond late in 2017, it broke new ground for financing energy-efficient buildings in Germany.

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Inauguration of the Fabrique Simplon in Dakar

Since its inception, the Societe Generale Foundation has supported projects on the African continent in the fields of professional integration, education and social integration through sport and cultural pursuits. As a sponsor of Simplon.co since 2014, the Foundation has renewed its support for this new and innovative project. The first class to attend the Fabrique Simplon in Dakar on the campus of Dakar University began on March 18th,2018, a project conducted in cooperation with the "Francophone University Association" (AUF).

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Commitment

Special folder: Women in IT

Within Societe Generale policy in favor of more diversity, the Group is highly committed to reaching professional gender equality. Read the interviews of women working in IT and their perspective on the role of women in an evolving work environment.

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All our previous Letters to Shareholders