Understanding our 2013 Q4 & annual results

Frédéric Oudéa's editorial

2013 provided confirmation of the robustness of Societe Generale’s universal banking model, which was both resilient and a generator of growth, in a still challenging environment. Net banking income amounted to EUR 22.8 billion, an increase of +4.3% compared with 2012. The cost savings plan already helped secure EUR 350 million in 2013. Group net income amounted to EUR 2.2 billion and virtually trebled compared with 2012.

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2013 Annual Results: key figures

  • EUR 22.8bn (+4.3%* vs. 2012)
    Group revenues

  • EUR 3.9bn** (+15.4% vs. 2012)
    Group net income

  • EUR 2.2bn (x 2.8 vs. 2012)
    Book Group net income


    *  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.

  • EUR 1.00 per share
    Proposed dividend, paid in cash

  • 8.4%**
    Return on equity (ROE)

  • 10.0% Basel 3 Common Equity Tier 1 Ratio
    End-2013 target exceeded


    ** Excluding non-economic items (revaluation of own financial liabilities), legacy assets, and non-recurring items.

Results by business

The Group produced a good operating performance in all its businesses, with a solid revenue base that is evenly balanced between its three strategic pillars.

French Retail Banking
International Retail Banking & Financial Services
Global Banking & Investor Solutions
Corporate Center

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Strategy: A new Private bank in France

Societe Generale is radically developing its private banking relationship model in France and extending its offer to a larger number of clients.

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Expert opinion: Emerging markets, looking for new momentum

At a time when the economic and financial situation in developed countries appears to be gradually improving in the US, the eurozone, the UK and Japan, new questions have arisen, this time from the emerging world. An analysis by Ariel Emirian, Economist at Societe Generale.

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CSR: Environmental efficiency rewarded at Societe Generale

Societe Generale, which since 2007 has embarked on a proactive process of reducing its CO2 emissions, was one of the first banks to introduce an internal carbon tax.

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Citizen Commitment: Financial education projects

To raise awareness among young people and adults about the challenges of balancing a budget and to promote understanding of banking products, Societe Generale employees around the world have developed various financial education initiatives.

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All our previous Letters to Shareholders