Understanding our third quarter 2019 results
Once again this quarter, we have achieved results very much in line with our objectives and priorities. We continued to strengthen our capital, with a substantial increase in the CET1 ratio to 12.5%. We have already provisioned a dividend per share of EUR 1.65 in respect of the first 9 months of 2019, corresponding to 75% of EUR 2.20. We are also making satisfactory progress in the adaptation of the businesses and our business model. The underlying profitability of our tangible equity (ROTE) stood at 8.1% for the first nine months of the year. Finally, Societe Generale has confirmed its position as a leading bank in combating climate change.
This year again, and for the sixth consecutive year, Societe Generale is in the small circle of the most mature CAC 40 companies in terms of digital transformation. The 2019 eCAC40 Awards* recognised Societe Generale as 1st bank and 4th of the most advanced CAC 40 companies in terms of digital maturity. In addition, Societe Generale was awarded this year the “strategic continuity” Award for its digital transformation.
With Rugby World Cup 2019 held from 20 September to 2 November, the Group reinforces its prestigious partnership status as a Worldwide Partner and Official Bank, which dates back to Rugby World Cup 1991. With the tournament in Japan now over, Societe Generale continues to bring people together and encourages all to celebrate the biggest rugby event in the world!
Societe Generale is a Founding Signatory of the Principles for Responsible Banking and joins the Collective Commitment on Climate. As a demonstration of this commitment, the Group is making a new commitment of raising €120 billion for the energy transition between 2019 and 2023, of which €100 billion in sustainable bonds issues and €20 billion dedicated to the renewable energy sector through advisory and financing.
RobecoSAM's annual sustainability ranking puts Societe Generale in 1st place worldwide on environmental matters and 6th place in Europe for all ESG (Environmental, Social and Governance) factors, out of the 175 banks analysed. “These results are proof of our determination to incorporate our CSR policy into the Group’s strategy to continue making a positive contribution in meeting environmental and social challenges,” Diony Lebot, Societe Generale Group's Deputy CEO
Societe Génerale supported Enel, the leading Italian energy company, in raising US$1.5bn for sustainable development from an innovative “green”bond that breaks new ground for environmental financing.