Societe Generale : A low point for net income in Q3 2023 ahead of a gradual recovery expected
>Q3 revenues slightly lower than the consensus - Société Générale posted its Q3 2023 net income on Friday, with a new business breakdown, which clearly has no impact on the consolidated figures. Total revenues came to € 6.189bn (-6.2%), about 2% short of the average consensus and close to our forecast. We note for the quarter that revenues fell short of expectations in retail banking in France (interest income) and at Ayvens (ex ALD), which was partially offset by hi...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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