Understanding our 2014 Q2 results

Frédéric Oudéa's editorial

The announcement of the second quarter 2014 results is our first meeting since the presentation of our strategic plan on 13 May. The performance of the businesses over the quarter demonstrates the relevance and strength of our growth-driven model, and we are fully on track with our roadmap. In a mixed economic environment with historically low interest rates, the Group posted a solid commercial performance. Earnings from the businesses are good, continuing the trend from the first quarter.

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2014 Q2 key figures

  • EUR 6.3bn (+0.6%* vs. Q2 13)
    Revenues from Group businesses

  • -1.3%* vs. Q2 13
    Decline in operating expenses

  • -22.6%* vs. Q2 13
    Sharp decline in the net cost of risk


    * When adjusted for changes in Group structure and at constant exchange rates.

  • EUR 1.0bn (+7.8% vs. Q2 13)
    Group net income

  • ROE of 8.8% (+0.4 points vs. Q2 13)
    Return on equity

  • Basel 3 Common Equity Rier 1 Ratio of 10.2%
    Higher

2014 H1 key figures

  • EUR 1.3bn
    Group net income

Results by business

The good performance of the businesses in Q2 2014 illustrates the relevance of our banking model.

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

Expert opinion: Three questions on ECB policy

At the start of June, the ECB announced a comprehensive package of new measures, including further cuts in its key interest rates, and targeted longer-term refinancing operations to support lending to the non-financial private sector (excluding home loans). What consequences can we expect? An analysis by Olivier Garnier, Group Chief Economist.

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Strategy: A new relationship model for the bank 2.0

With the in-depth changes in consumer habits and the growing digitalisation of customer relations, Societe Generale is developing a multi-channel setup where the customer chooses the type of interaction and benefits from advice at every step, with a fluid service from one channel to the next.

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Innovation: Societe Generale's App named best mobile banking application worldwide in 2014

After ranking number two global mobile banking application in 2013, Societe Generale's App has been awarded the top spot in the "all-in-one" application category by research company MyPrivateBanking Research, which analyses more than 200 of the mobile applications of 50 banks worldwide.

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Awards: Best Bank in France!

Societe Generale has received the awards of Best Bank in France and Best Equity House in France at Euromoney magazine's 2014 Global Awards for Excellence. These awards illustrate the synergies being developed between businesses within the Group and Societe Generale’s continuous commitment to its clients.

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Commitments: Cultural patronage receives an Oscar

On 1 July 2014, Societe Generale received the Jacques Rigaud Oscar for cultural patronage during Admical's 29th Oscar ceremony in the presence of Patricia Barbizet, General Manager of Artémis and President of the corporate sponsorship jury for the Oscars, and Henri Loyrette, President of Admical.

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