Societe Generale : Q2 earnings set to be impacted by various non-recurring items
>Revenues forecast down 9% - Société Générale is due to report its Q2 2023 net income on 3 August. We forecast revenues of € 6,448m (8.7% decline vs Q2 2022) very slightly above the consensus (median of € 6,394m). We expect in particular: 1/ a 12.4% decline in retail banking revenues in France, given the expected downturn in the interest margin (end of TLTROs, borrowing rate, increase in the Livret A remuneration rate, as well as the cost of interest rate hedges); n...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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