Understanding our 2014 Q3 results

Frédéric Oudéa's editorial

Our Group posted solid third quarter results thanks to the businesses’ good commercial performance, tightly controlled operating expenses and the decline in the cost of risk. The results of the asset quality review and stress tests carried out by the ECB confirm the solidity of our balance sheet and the pertinence of our universal banking model. The transformation undertaken for three years has paid off and the Group can confidently pursue the implementation of its strategic plan.

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2014 Q3 key figures

  • EUR 5.9bn (-1.8%* vs. Q3 13)
    Net banking income

  • 58 basis points (-11bp vs. Q3 13)
    Commercial cost of risk: sharp decline and already in line with medium-term targets


    * Excluding non-economic items

  • EUR 836m  (vs. EUR 534m in Q3 13)
    Substantial increase in Group net income

  • Basel 3 Common Equity Tier 1 ratio of 10.4%
    Increase in the ratio

Interview with Frédéric Oudéa

Chairman & CEO Frédéric Oudéa commented on the Group’s results in an interview he gave to EuroBusinessMedia (CEO-Direct).

Watch the video

Expert opinion: ECB evaluation of banks, a key step towards banking union

On the 26th October the ECB published the results of the Assets Quality Review and the Stress Tests of the most important banks in Europe. This analysis of the banks' balance sheets is a requirement for joining the Single Supervisory Mechanism, which became operational on the 4th November 2014.

Read the explanations of Olivier Garnier, Group Chief Economist

Strategy: Societe Generale speeds up its digital transformation with Microsoft

For 150 years, innovation in the service of our clients has been part of Societe Generale's DNA. The Digital For All programme and Microsoft agreement (signed on the 23rd September) will help the Group take another step forward in building the bank of tomorrow.

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Financing the economy: Encouraging businesses to invest

Societe Generale reaffirms its commitment both to supporting the development of SMEs and its involvement in collective efforts to stimulate the French and European economies.

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Innovation: A successful "SG Connected Hack"

Last month Societe Generale held "SG Connected Hack", France's first hackathon on the subject of banking and insurance and connected objects, at the French private computer programming school Ecole 42.

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Commitments: Solidarity-based finance, Societe Generale expands its product range

The Group was one of the first banks to offer its customers solidarity-based financial products. Now it is actively seeking to respond to its customers' growing interest in collective initiatives.

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Awards: A winner at the 2014 "Grand Prix de la Transparence" transparency awards

The "Grands Prix de la Transparence" assess the regulatory information of companies listed on the SBF 120 index according to four key criteria: accessibility, precision, comparability and availability.

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All our previous Letters to Shareholders