Societe Generale : Decline in net income anticipated in Q3 on a very high comparison base
>Anticipated decline in revenue vs a very demanding comparison base - Société Générale is due to report its Q3 2022 earnings on 4 November. We forecast revenue of € 6,266m (-6.1%), a shade below the consensus (€ 6,309m, -5.4%). We notably anticipate a decline in revenue at the retail banking activity in France (-3.1%), with the increase in interest rates, which is ultimately positive, having no significant impact on Q3 and with the group facing a rise in the Livret 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.
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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