Understanding our Q2 2016 results
In a challenging environment, marked by very low or even negative interest rates in some regions, low commodity prices and, at the end of first half-year, by market turbulence due to the UK vote in favour of Brexit, our Group has achieved increased revenues of more than 4% at €13.2 billion* in the first half of 2016, benefiting from the good performances of our three core businesses: French Retail Banking, International Retail Banking & Financial Services and Global Banking & Investor Solutions. Accordingly, we generated Group Net Income of €2.4 billion* during the first six months of 2016, up 25.5%. Earnings Per Share, EPS adjusted for the Group’s own financial liabilities, amounts to €2.77, up +25% compared to the first half of 2015 (€2.22).
Results by business
Sound results in a challenging environment
The result of the referendum held on 23 June wrong-footed the financial markets, which had anticipated the United Kingdom remaining within the European Union. Major uncertainties about the negotiation schedule and, in particular, the future relationship between the United Kingdom and the EU are sources of heightened financial volatility.
Intensive client engagement, extending our leadership positions and developing medium term growth drivers: Mr. Hikaru Ogata, Chief Executive Officer for Societe Generale Asia Pacific, shares his insights on these three priorities at the heart of Societe Generale’s strategy in the region.
In the digital era, the key innovations in the services sector come from companies that have set up open platforms to leverage the power of the masses. To innovate, a company needs to open up and create ecosystems that involve its stakeholders such as customers, start-ups and universities, as well as staff. This is what is known as Open Innovation.
From sporting challenges, fund raising and skills sharing, almost 200 charity events will have been organised by 42 countries, a record level of achievement! Thanks to their commitment, nearly €400,000 has already been donated to not-for-profit associations across the globe.
Societe Generale has been supporting the paralympic movement since 2003. As the 2016 Paralympic Games in Rio approach - running between 7 and 18 September - Societe Generale wishes every encouragement to all of the athletes in their quest to win medals and aims to give the athletes and the events as much media coverage as possible.