Societe Generale Q2 Net Banking Income Rises 12.8%, More Than Expected

• (PLX AI) - Societe Generale Q2 net banking income EUR 7,065 million vs. estimate EUR 6,566 million.
• • Q2 adj. gross operating income EUR 2,475 million
• • Q2 adjusted net income EUR 1,505 million
• • Q2 gross operating income EUR 2,607 million
• • Effective exit from Russia: EUR -3.3bn P&L impact before tax and very limited impact on capital
• • 2025 targets: Revenue growth (above or equal to 3% 2021-2025 CAGR)|
• • Improvement in the cost to income ratio (below or equal 62%)
• • Expected profitability of 10% (ROTE)
• • Target CET 1 ratio of 12% post Basel IV
• • Pay-out policy maintained: 50% of underlying Group net income