Societe Generale : Global Markets – Durably insufficient profitability
>Global Markets – Profitability hard to restore - Information regarding goodwill and its impairment (including EMC) suggest that SG expects the global markets unit to be less profitable than the CoE applied in impairment tests, despite the efforts it announced (see detailed estimates below). This profitability outlook still far exceeds consensus estimates of a return of no more than 6-7% in the entire division, including investor services. To attain the targets, we al...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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