SG results down, but good
August 2, 2017

Societe Generale's Board of Directors, which met on August 1, 2017 under the chairmanship of Lorenzo Bini Smaghi, examined the results for H1 and Q2 2017.

They described the results as good, even though book group net income amounted to EUR 1,058 million in Q2 2017 compared with EUR 1,461 million in Q2 2016 and EUR 1,805 million in H1 2017 against EUR 2,385 million in H1 2016).

The board says these results include non-economic items and exceptional items. When corrected for these items and the additional charge in respect of the linearization of the impact of IFRIC 21, underlying Group net income totalled EUR 1,165 million in Q2 2017, up +11.0% vs. Q2 2016. Underlying Group net income was up +32.6% at EUR 2,551 million in H1 2017 (EUR 1,924 million in H1 2016), as was underlying ROE (9.5% in H1 2017 vs. 7.5% in H1 2016).

This iteration of the results does not include a figure for the contribution of its securities services unit.





This site, like many others, uses small files called cookies to customize your experience. Cookies appear to be blocked on this browser. Please consider allowing cookies so that you can enjoy more content across globalcustody.net.

How do I enable cookies in my browser?

Internet Explorer
1. Click the Tools button (or press ALT and T on the keyboard), and then click Internet Options.
2. Click the Privacy tab
3. Move the slider away from 'Block all cookies' to a setting you're comfortable with.

Firefox
1. At the top of the Firefox window, click on the Tools menu and select Options...
2. Select the Privacy panel.
3. Set Firefox will: to Use custom settings for history.
4. Make sure Accept cookies from sites is selected.

Safari Browser
1. Click Safari icon in Menu Bar
2. Click Preferences (gear icon)
3. Click Security icon
4. Accept cookies: select Radio button "only from sites I visit"

Chrome
1. Click the menu icon to the right of the address bar (looks like 3 lines)
2. Click Settings
3. Click the "Show advanced settings" tab at the bottom
4. Click the "Content settings..." button in the Privacy section
5. At the top under Cookies make sure it is set to "Allow local data to be set (recommended)"

Opera
1. Click the red O button in the upper left hand corner
2. Select Settings -> Preferences
3. Select the Advanced Tab
4. Select Cookies in the list on the left side
5. Set it to "Accept cookies" or "Accept cookies only from the sites I visit"
6. Click OK

Societe Generale's Board of Directors, which met on August 1, 2017 under the chairmanship of Lorenzo Bini Smaghi, examined the results for H1 and Q2 2017.

They described the results as good, even though book group net income amounted to EUR 1,058 million in Q2 2017 compared with EUR 1,461 million in Q2 2016 and EUR 1,805 million in H1 2017 against EUR 2,385 million in H1 2016).

The board says these results include non-economic items and exceptional items. When corrected for these items and the additional charge in respect of the linearization of the impact of IFRIC 21, underlying Group net income totalled EUR 1,165 million in Q2 2017, up +11.0% vs. Q2 2016. Underlying Group net income was up +32.6% at EUR 2,551 million in H1 2017 (EUR 1,924 million in H1 2016), as was underlying ROE (9.5% in H1 2017 vs. 7.5% in H1 2016).

This iteration of the results does not include a figure for the contribution of its securities services unit.



Free subscription - selected news and optional newsletter
Premium subscription
  • All latest news
  • Latest special reports
  • Your choice of newsletter timing and topics
Full-access magazine subscription
  • 7-year archive of news
  • All past special reports
  • Newsletter with your choice of timing and topics
  • Access to more content across the site