PARIS (dpa-AFX) - French banking major Societe Generale S.A. (SCGLF.PK, SCGLY.PK) reported Friday higher profit in its fourth quarter with increased net banking income.
In the fourth quarter, Group net income climbed 36.4 percent to 1.42 billion euros from last year's 1.04 billion euros.
Operating income improved 16.8 percent to 1.97 billion euros from 1.69 billion euros a year ago.
Net banking income for the quarter stood at 6.73 billion euros, up 1.6 percent from 6.62 billion euros last year. Revenues grew 7.6 percent at constant scope and exchange rates, and 6.8% excluding asset disposals.
Further, the firm said a cash dividend of 1.613 euros per share, up 48% compared to 2024, will be proposed to the Annual General Meeting of Shareholders on May 27. The final dividend amounts to 1.00 euro per share, to be paid on June 3.
The company also announced a share buy-back programme totalling 1.462 billion euros. The programme will be launched on February 9.
Further, the firm said it has revised its financial targets for 2026 and now forecasts, at Group level, annual revenue growth of more than 2% from the prior year.
Lorenzo Bini Smaghi, Chairman, stated that the Board of Directors has decided to renew the mandate of Slawomir Krupa as Chief Executive Officer for a four-year term starting in 2027.
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