Societe Generale : Cautious guidance for 2024, but there are good reasons
>Q4 earnings not as bad as expected in the end - Société Générale reported its 2023 earnings yesterday. Revenues came in at € 5.957bn in Q4 2023, c. 2% ahead of the consensus (and 2% above our forecasts). We note Q4 revenues were slightly better than anticipated in retail banking in France and private banking, and in capital markets activities where the decline in revenues in FIC was largely offset by a good performance in equities. In retail banking in France, intere...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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