4th quarter and full year 2025 results

RECORD REVENUES OF EUR 27.3BN IN 2025, +6.8%¹ VS. 2024

RECORD GROUP NET INCOME OF EUR 6BN IN 2025, +43% VS. 2024

2025 TOTAL DISTRIBUTION OF EUR 4.7BN, +169% VS. 2024

2026 ROTE TARGET UPGRADED TO MORE THAN 10%

• Record revenues of EUR 27.3bn in 2025, strongly up by +6.8% vs. 2024, excluding asset disposals, above the 2025 annual target of >+3%
• Costs down -2.0% vs. 2024, excluding asset disposals, better than the 2025 annual target of >-1%
• Cost-to-income ratio of 63.6% in 2025, below the 2025 annual target of <65%
• Cost of risk at 26bps in 2025, at the lower end of the 2025 annual target range of 25 to 30bps
• Group net income of EUR 6.0bn in 2025, +43% vs. 2024, with a ROTE of 10.2% and 9.6% excluding net gains on other assets, above the annual target of ~9% for 2025
• In Q4 25, strong revenue growth of +6.8%^[1] vs. Q4 24, costs down -1.4%¹ vs. Q4 24, cost-to-income ratio of 64.6%, cost of risk at 29bps, Group net income of EUR 1.4bn and ROTE of 9.5%
• Proposed ordinary distribution for 2025 of EUR 2,679m, representing a payout ratio of 50%^[2], comprising:
• a cash dividend of EUR 1.61^[3] per share to be proposed to the General Meeting, including an interim dividend of EUR 0.61[4] per share and a final dividend of EUR 1.00[5] per share
• a share buy-back programme totalling EUR 1,462m. The ECB’s approval has been obtained, and the programme will be launched on 9 February 2026
• Total extraordinary distribution of EUR 2bn in the form of two additional share buy-backs of EUR 1bn each already launched in 2025
• CET1 ratio of 13.5% at end 2025, around 320 bps above the regulatory requirement
• Group’s financial targets for 2026:
• revenue growth of >+2% and reduction in costs of ~-3% vs. 2025, leading to a cost-to-income ratio of <60% in 2026
• cost of risk between 25 and 30bps in 2026
• profitability upgrade with a ROTE of more than 10% in 2026

Societe Generale’s Board of Directors, which met on 5 February 2026 under the chairmanship of Lorenzo Bini Smaghi, examined the Societe Generale Group’s results for Q4 25 and endorsed the 2025 financial statements.

Slawomir Krupa, the Group’s Chief Executive Officer, commented:   
“In 2025, we took a decisive step in the transformation of our Group. Through the disciplined execution of our strategic roadmap, we have sustainably strengthened our capital position and significantly improved our commercial and financial performance, successfully exceeding all targets set for the year. We achieved both record revenues and net income for the Group, combining robust growth across all businesses with strict cost and risk management. I warmly thank our clients for their trust and our employees for their commitment, as we continue to build a stronger and more efficient bank. Given our strong results, we have significantly increased the return to our shareholders, in particular with the extraordinary distribution of capital through two successive share buy-backs. We will accelerate in 2026 and aim for an upgraded ROTE target of more than 10%. We will hold our Capital Markets Day on 21 September 2026 to present the Group’s next strategic phase and the continued improvement of our sustainable performance, which is a key driver of value for all our stakeholders.”

Lorenzo Bini Smaghi, Chairman of the Board of Directors, commented:  
“The Board of Directors is grateful to all teams across the Group and to the leadership team of Societe Generale for delivering a strong set of results in 2025, above expectations in all businesses, including remarkable achievements in terms of revenue growth and cost reduction. In this context, the Board of Directors[6] has unanimously decided to renew the mandate of Slawomir Krupa as Chief Executive Officer for a four-year term starting in 2027, to further strengthen the position of Societe Generale as a leading European bank.”