On the basis of the SSM announcements of March 12th, Societe Generale Group's Minimum Distributable Amount ("MDA"), which stood at 10.03% at January 1st, 2020, should decrease by 105bp, of which 77bp following the early implementation of Article 104A of the CRD5 regulation, and 28bp with a countercyclical buffer reduced to zero. With a CET1 ratio of 12.7% at end-December 2019 (12.8% pro forma), the Group would thus have a buffer of around 370bp above the MDA compared to more than 200bp at the end of December 2019.
Furthermore, to date, there are no operational or financial elements that would justify a specific communication from Societe Generale Group regarding Q1 20 results.
Finally, the notice of a Annual General Meeting, scheduled for May 19th, 2020 will be published on Wednesday March 18th. It includes all the resolutions and in particular the one proposing a dividend of €2.20 per share for the year 2019.