Societe Generale : Caution on the outlook for revenues and equity generation
>Future equity generation weakened by the business-mix - The results of the stress tests, the option of a dividend in shares with formal maturity and the 0.25% increase in the “Pillar 2 Requiredâ€Â could be interpreted by investors as signs of weakness. We nonetheless think that the level of the CET1 at end-2018 (11.5% pro forma) is satisfactory. We continue to think that Société Générale’s business mix penalises its equity generation and its valuation. Retail France re...Societe Generale is a universal banking and financial services group based in France. Co. is engaged in operations in areas such as retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Co.'s three segments are: French Retail Banking (FRB); International Retail Banking & Financial Services (IBFS); and Global Banking and Investor Solutions (GBIS). FRB offers products and services to individual, professional and business customers; IBFS comprises banking networks and consumer finance activities; and GBIS covers global activities of Corporate and Investment Banking. Co. maintains operations across 76 countries globally.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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