Societe Generale : Q1 2023 revenues and net income expected to show a decline
>We forecast a revenue decline of 9% - Société Générale is due to report its Q1 2023 earnings on 12 May. We forecast revenues of € 6.614bn, down 9.2% vs Q1 2022, slightly below the consensus (€ 6.701bn), with the bulk of the gap stemming from insurance for which we have tried to estimate the impact of IFRS 17 on revenues (with the effect on costs in insurance, but also in retail banking in France). We notably forecast: 1/ a drop in revenues in France (-0.6%, consensu...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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