Report
Steven Gould

Société Générale : Capital Markets – Rentabilité durablement insuffisante

>Capital Markets – Rentabilité difficile à redresser - Les informations relatives au GW et à son impairment (incluant EMC) laissent penser que SG tablerait sur une rentabilité « Capital Markets » qui pourrait être inférieure au CoE retenu dans les tests d’impairment, et cela malgré les efforts annoncés (voir estimation détaillée ci-après). Ces perspectives de rentabilité sont encore nettement supérieures aux attentes du consensus qui n’attend pas plus de 6% à 7% pour ...
Underlying
Societe Generale S.A. Class A

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Steven Gould

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