Understanding our second quarter 2019 results
This quarter provided further evidence of the successful execution of our strategic plan with our two short-term financial objectives: increasing our level of capital and improving our profitability. In particular, we continued to significantly strengthen our capital.
Societe Generale is adapting the organisation of its Global Banking and Investor Solutions activities in order to improve the quality of services delivered to its clients and the efficiency of its business model by refocusing on its areas of excellence.
Societe Generale was named Best Bank in Africa in the Corporate Social Responsibility category at the recent Awards for Excellence 2019 held by Euromoney, the British finance magazine of reference. This award is recognition of the Bank's long-term commitment on the African continent.
"Over the last two decades there has been a marked increase in optimism around Africa, with several countries in the region showing high growth rates. Among the many encouraging factors (rapid rate of urbanisation, growth in the middle class, etc.) is the growing commercial and financial integration of Africa with the rest of the world." Olivier de Boysson, Chief Economist, Emerging countries, and Clément Gillet, Economist, Africa
Societe Generale announces the successful issue of its fifth Positive Impact bond contributing to the financing of a carbon-efficient economy. This is a €1 billion 10-year fixed-rate covered bond. The operation highlights the Bank’s ongoing commitment to the energy transition with the operation receiving very strong interest from investors, with the final order book exceeding €2.5 billion.
Committed to the fight against global warming for over 10 years, notably through Positive Impact Finance of which the Bank is a pioneer, the Group has published a new sectoral policy on coal with a strong objective: zero exposure in its financing portfolio to thermal coal by 2030 for companies with activities in EU and OECD countries.
A study by the magazine Challenges found that financial professionals at leading companies were overall satisfied with their banks. Societe Generale was ranked top of all banking institutions in France. The criteria emphasised in this study included project support, the granting of credit, access to a bank advisor and banks’ role in the digitalisation of companies, notably in fighting fraud.
Partner of the Journées Nationales Des Jeunes (National Youth Day), Societe Generale opens its doors to young people and students in France and around the world to enable them to better understand banking and discuss what tomorrow’s company will look like. Workshops, meetings, visits relating to key topics such as cybersecurity, financial education, learning how to code, sustainable mobility, … The aim of this 8th day of national activities was to promote the professional integration of young people and encourage interaction between the academic and corporate worlds.