Societe Generale : Net income ahead of expectations and slight improvement for NII in France
>Strong revenue growth, nearly 5% ahead of the consensus - SG reported its Q3 2024 results last Thursday. Revenues came in at € 6.837bn (+10.5% vs Q3 2023), including a non-recurrent gain of € 287m for Corporate Centre (Russia). Revenues came in 4.7% ahead of the consensus and 3.3% ahead of our forecast, with a better-than-expected showing in capital markets operations and retail banking in France, and lower than expected at Ayvens. In retail banking in France, revenu...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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