- Net income for SocGen in 1Q was EU680 million, beating estimates of EU556 million though it represented a 22% year-over-year decrease.
- Net banking income was EU6.65 billion, slightly down by 0.4% year-over-year, but higher than the estimated EU6.51 billion.
- Global Banking & Investor Solutions saw a net banking income of EU2.62 billion, 5.1% less year-over-year, but above the estimated EU2.57 billion.
- Global markets and investor services brought in revenue of EU1.76 billion, exceeding the expected EU1.73 billion.
- FIC sales and trading revenue was down by 17% year-over-year at EU733 million, slightly under the estimated EU735.1 million.
- Equities revenue rose by 3.1% year-over-year to EU870 million, beating the estimated EU842.9 million.
- Security services reveue fell short of expected EU180.2 million, at EU161 million.
- Financing and advisory revenue topped estimates at EU859 million, above the expected EU842.5 million.
- France retail, private banking, and insurance net banking income was EU2.01 billion, down 3.5% year-over-year, matching the estimated figure.
- International retail, mobility, and leasing services net banking income rose by 3.9% year-over-year to EU2.15 billion, outpacing the estimate of EU1.98 billion.
- Operating expenses totalled EU4.98 billion, 1.5% less year-over-year, and less than the estimated EU5.05 billion.
- Operating income stood at EU1.27 billion, down 12% year-over-year, but more than expected estimate of EU1.1 billion.
- Provision for loan losses reached EU400 million, up from EU182 million year-over-year, and higher than the estimated EU377.3 million.
- CET1 ratio fully-loaded came in at 13.2%, above the estimated 13%.
- SocGen reduced its offshore exposure to Russia to around EU0.7 billion, down from EU0.9 billion at the end of 2023 (a decrease by 22%).
- The integration of LeasePlan is on schedule, it generated revenue synergies worth EU20 million during the quarter, and SocGen is on track for their EU120 million target in 2024.
A look at Societe Generale Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Societe Generale SA seems to be in a strong position for the long term, as indicated by its Smartkarma Smart Scores. With high scores in Value and Dividend factors, the company appears to be financially sound and potentially offering good returns to investors. Although the Growth and Resilience scores are not as high, the company’s Momentum score suggests positive market sentiment and potential for future growth.
Overall, Societe Generale SA, a bank that offers a wide range of banking services including consumer credit, insurance, and financing, seems well-positioned for stability and profitability. The combination of high Value and Dividend scores, along with a decent Momentum score, indicates that the company may be a solid choice for investors looking for reliable returns over the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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