Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Q3 2007 Earnings Presentation
65 slides from Societe Generale S.a. Class A's earnings presentation, Nov 7, 2007
Slide 1: Third Quarter and 9 Month 2007 Results
07 / 11 / 2007 THIRD QUARTER AND 9 MONTH 2007 RESULTS
Slide 2: Disclaimer
Disclaimer The following presentation contains a number of forward-looking statements relating to Société Générale’s targets and strategy. These forecasts are based on a series of assumptions, both general and specific. As a result, there is a risk that these projections will not be met. Readers are
Slide 3: Agenda
Group results Results of core businesses French Networks International Retail Banking Financial Services Global Investment Management & Services Corporate & Investment Banking Conclusion Supplements THIRD QUARTER AND 9 MONTH 2007 RESULTS 07 / 11 / 2007 3
Slide 4: Highlights of Q3 07
SOCIETE GENERALE GROUP Highlights of Q3 07 Very strong performances in Retail Banking and Financial Services Further growth in customer base: +3.6 million individual customers vs. Sept. 2006 (+10.7%*) NBI: +10.0%** vs. Q3 06 Excellent performance at Private Banking and Securities Services Decl
Slide 5: Good resilience of Q3 07 results
SOCIETE GENERALE GROUP Good resilience of Q3 07 results NBI: +1.2%* vs. Q3 06 In EUR m Q3 06 Q3 07 Change Q3/Q3 Net banking income 5,266 5,375 +2.1% +1.2%* Operating expenses (3,213) (3,374) +5.0% +4.2%* Operating expenses: +4.2%* Gross operating income 2,053 2,001 -2.5% -3.4% * vs. Q3 06 Net al
Slide 6: Increase in 9M 07 net income vs. 9M 06: +6.3%
SOCIETE GENERALE GROUP Increase in 9M 07 net income vs. 9M 06: +6.3% NBI: +7.4%* vs. 9M 06 In EUR m 9M 06 9M 07 Change 9M/9M Net banking income 16,746 18,043 +7.7% +7.4%* Operating expenses: +7.4%* Operating expenses (10,114) (10,889) +7.7% +7.4%* vs. 9M 06 Gross operating income 6,632 7,154 +7.
Slide 7: Slight increase in revenues despite the financial crisis
SOCIETE GENERALE GROUP Slight increase in revenues despite the financial crisis Very strong performances in Retail NBI (in EUR bn) Change Banking and Financial Services Q3 07 vs. Q3 06 Group Very strong growth at French Networks: +1.2%* +6.6% vs. Q3 06 excl. PEL/CEL • NBI: +4.1% vs. Q3 06 incl. PE
Slide 8: Group C/I ratio: 62.8% (vs. 61.0% in Q3 06)
SOCIETE GENERALE GROUP Group C/I ratio: 62.8% (vs. 61.0% in Q3 06) Operating expenses (in EUR bn) Change Increase in C/I ratios at Asset Q3 07 vs. Q3 06 Management and Corporate & Investment Group Banking due to lower revenues +4.2%* 3.4 Asset Management: 72.4% (vs. 63.1% in Q3 06) 3.2 Corporate &
Slide 9: Cost of risk remains low: 26 bp (vs. 21 bp in Q3 06)
SOCIETE GENERALE GROUP Cost of risk remains low: 26 bp (vs. 21 bp in Q3 06) French Networks Net allocation to provisions (in EUR m) 25 bp (vs. 24 bp in Q3 06) 134 231 192 186 226 International Retail Banking Low cost of risk: 42 bp (vs. 53 bp in Q3 06) Corporate & 9 Investment Banking 87 84 86
Slide 10: Agenda
Group results Results of core businesses French Networks International Retail Banking Financial Services Global Investment Management & Services Corporate & Investment Banking Conclusion Supplements THIRD QUARTER AND 9 MONTH 2007 RESULTS 07 / 11 / 2007 10
Slide 11: French Networks
FRENCH NETWORKS Q3 Q3 07 07 NBI: NBI: +6.6% +6.6% vs. vs. Q3 Q3 06 06 excl. excl. PEL/CEL PEL/CEL +4.1% +4.1% vs. vs. Q3 Q3 06 06 32% of Group NBI Q3 Q3 07 07 net net income: income: EUR EUR 364m 364m (+6.4% (+6.4% vs. vs. Q3 Q3 06) 06) 32% 32% of of total total net net income income Q3 Q3 07 07 ROE
Slide 12: Regular, profitable growth in a competitive, low-risk market
FRENCH NETWORKS Regular, profitable growth in a competitive, low-risk market Housing loans/GDP Characteristics of French housing loan 80% market UK Mostly a fixed rate market Spain Loans granted on the basis of borrowers’ 40% capacity to meet repayments France ªStable cost of risk at a very low le
Slide 13: Sustained business levels
FRENCH NETWORKS Sustained business levels Individual customers Individual and business customers: Further growth in customer base: steady franchise growth +168,200 personal current accounts vs. Q3 06 Change (+2.8%) of which +49,400 in Q3 07 since 2001 (vs. +53,200 in Q3 06) Solid performance in sa
Slide 14: Very strong increase in revenues
FRENCH NETWORKS Very strong increase in revenues NBI: +6.6% vs. Q3 06 excl. PEL/CEL 1,677 1,728 1,736 1,789 1,746 NBI in EUR m NBI: +4.1% vs. Q3 06 after reversal of EUR 7m PEL/CEL provision 223 Financial 211 219 211 commissions (vs. EUR 46m in Q3 06) 185 Fee and commission income: 533 566 578 5
Slide 15: Very good financial results
FRENCH NETWORKS Very good financial results Third quarter 2007 NBI excl. PEL/CEL: +6.6% vs. Q3 06 Operating expenses under control: +2.2% vs. Q3 06 Change Change In EUR m Q3 06 Q3 07 9M 07 ªLow C/I ratio excl. PEL/CEL: 63.7% Q3/Q3 9M/9M (vs. 66.5% in Q3 06) Net banking income 1,677 1,746 +4.1% 5,2
Slide 16: International Retail Banking
INTERNATIONAL RETAIL BANKING Q3 Q3 07 07 NBI: NBI: +25.3% +25.3% vs. vs. Q3 Q3 06; 06; +20.4% +20.4% like -for-like like-for-like Q3 Q3 07 07 net net income: income: EUR EUR 172m 172m (+43.3% (+43.3% vs. vs. Q3 Q3 06) 06) 15% 15% of of total total net net income income Q3 Q3 07 07 ROE ROE after afte
Slide 17: Sustained growth of customer base
INTERNATIONAL RETAIL BANKING Sustained growth of customer base Geographical breakdown of NBI Robust sales performance (in EUR m) +749,000 individual customers at constant structure vs. end-Sept. 2006 (+10.9%) CAGR: +23% Marked rise in customer deposits and loans: Sub-Saharan 871 Africa & French •
Slide 18: Very significant increase in results
INTERNATIONAL RETAIL BANKING Very significant increase in results Third quarter 2007 NBI: +20.4%* vs. Q3 06 Operating expenses: +14.7%* Change Change vs. Q3 06 (+9.5%* vs. Q3 06 In EUR m Q3 06 Q3 07 Q3/Q3 9M 07 9M/9M excl. investments in network Net banking income 695 871 +25.3% +20.4%* 2,494 +16.
Slide 19: Financial Services
FINANCIAL SERVICES Q3 Q3 07 07 NBI: NBI: +19.0% +19.0% vs. vs. Q3 Q3 06; 06; +14.2% +14.2% like -for-like like-for-like Q3 Q3 07 07 net net income: income: EUR EUR 147m 147m (+9.7% (+9.7% vs. vs. Q3 Q3 06) 06) 13% 13% of of total total net net income income Q3 Q3 07 07 ROE ROE after after tax: tax:
Slide 20: Specialised financing: business growth
FINANCIAL SERVICES Specialised financing: business growth +14.8%* 16.8 Consumer credit** 14.2 Outstanding in Others 3.0 New lending: EUR 2.6bn (+9.2%* vs. Q3 06) 1.7 3.1 consumer credit** 3.0 Germany Outstanding at period-end: EUR 16.8bn (EUR bn) bn) 5.0 4.5 (+14.8%* vs. end-Sept. 2006) Italy 5.0
Slide 21: Increase in results
FINANCIAL SERVICES Increase in results Third quarter 2007 Specialised Financing • NBI: +13.7%* vs. Q3 06 • Operating expenses: +12.5%* vs. Q3 06 Change Change In EUR m Q3 06 Q3 07 9M 07 • ROE after tax: 16.2% Q3/Q3 9M/9M Net banking income 594 707 +19.0% +14.2%* 2,040 +14.4%* Life Insurance o.w. s
Slide 22: Global Investment Management and Services
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Q3 Q3 07 07 NBI: NBI: +11.3% +11.3% vs. vs. Q3 Q3 06; 06; +7.8% +7.8% like -for-like like-for-like Q3 Q3 07 07 net net income: income: EUR EUR 137m 137m (+3.8% (+3.8% vs. vs. Q3 Q3 06) 06) 16% 12% 12% of of total total net net income income of Group NBI Q3 Q
Slide 23: Asset management impacted by the liquidity crisis
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Asset management impacted by the liquidity crisis Net outflows in Q3 07: EUR -12.6bn Outflow from dynamic money market funds: EUR -7.4bn Assets under management** CDO outflow: EUR -4.2bn (in EUR bn) Strong business levels in Asia -12.6 +0.2 -6.4 Net new
Slide 24: Excellent performances in Private Banking
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Excellent performances in Private Banking Assets under management Net new money in Q3 07: EUR 2.4bn (in EUR bn) Strong performance at all operations +2.4 +0.2 -0.9 Net new money in 9M 07: EUR 6.7bn Net new Price FX 73.8 75.5 13% of AuM on an annualised b
Slide 25: Ongoing development at Securities Services and strong activity in brokerage
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Ongoing development at Securities Services and strong activity in brokerage Securities Services for Institutional Investors Assets under custody (in EUR bn) and Fund Administration 2,585 Steady increase in assets under custody: 2,155 2S Banca +20.0% vs. en
Slide 26: Creation of Newedge, in partnership with Calyon
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Creation of Newedge, in partnership with Calyon Merger agreement on August 8th between Fimat and Calyon Financial The new entity, Newedge, will be operational as of early January 2008 Market share in the US (Futures Commission Merchants, August 2007) Lea
Slide 27: Mixed business performances, stable results overall
GLOBAL INVESTMENT MANAGEMENT AND SERVICES Mixed business performances, stable results overall Asset management significantly Change Change impacted by the financial crisis In EUR m Q3 06 Q3 07 Q3/Q3 9M 07 9M/9M NBI: -19.2%* vs. Q3 06 Net banking income 767 854 +11.3% +7.8%* 2,889 +19.9%* GOI: -44.
Slide 28: Corporate & Investment Banking
CORPORATE & INVESTMENT BANKING 22% Equities of Group 13% NBI Q3 Q3 07 07 NBI: NBI: Fixed Income, Currencies --23.6% 23.6% vs. vs. Q3 Q3 06 06 excl. excl. Cowen; Cowen; --22.3% 22.3% like like-- & Commodities for -like 2% for-like Financing & Advisory 7% Q3 Q3 07 07 net net income: income: EUR EUR 31
Slide 29: Revenue downturn in an unfavourable market environment
CORPORATE AND INVESTMENT BANKING Revenue downturn in an unfavourable market environment Quarterly NBI** by division (in EUR m) 1,517 1,159 NBI: EUR 1,159m (-22.3%* vs. Q3 06) Fixed Income, 492 105 Currencies & Very solid performance in the Equities business Commodities (NBI +13.4%* vs. Q3 06) 416
Slide 30: Equities: very strong client-driven performance, limited trading revenues
CORPORATE AND INVESTMENT BANKING Equities: very strong client-driven performance, limited trading revenues Q3 revenues (in EUR m) 609 679 NBI from NBI: EUR 679m (+13.4%* vs. Q3 06) 112 Trading 264 Very strong performance of client-driven Client NBI 569 activities: EUR 569m (+65.4% vs. Q3 06) 344
Slide 31: Fixed Income, Currencies & Commodities: results impacted by subprime crisis
CORPORATE AND INVESTMENT BANKING Fixed Income, Currencies & Commodities: results significantly impacted by the subprime crisis and its consequences Q3 revenues (in EUR m) Sharp downturn in NBI: EUR 105m 492 105 (-78.2%* vs. Q3 06) 190 382 Client NBI Trading revenues: EUR -277m 302 Write-down of
Slide 32: Financing & Advisory: limited impact of crisis
CORPORATE AND INVESTMENT BANKING Financing & Advisory: limited impact of crisis Q3 revenues (in EUR m) 416 375 NBI: EUR 375m (-9.0%* vs. Q3 06) 432 EUR 98m write-down on a EUR 2bn portfolio 354 Client NBI of Non Investment Grade transactions in underwriting, including Other NBI** -16 21 EUR 1.3b
Slide 33: Market risk under control
CORPORATE AND INVESTMENT BANKING Market risk under control Reduced positions in Equity trading Increased Credit VaR linked to higher volatility 47.9 Group trading The 4 least favourable SG stress tests at end- VaR*(quarterly) VaR*(quarterly) June and end-September 2007 (in EUR m) 40.8 in EUR m 3
Slide 34: Decline in quarterly profitability: ROE after tax of 21.1%
CORPORATE AND INVESTMENT BANKING Decline in quarterly profitability: ROE after tax of 21.1% Third quarter 2007 NBI: -22.3%* vs. Q3 06 Operating expenses: -8.4%* Change Change In EUR m** Q3 06 Q3 07 9M 07 vs. Q3 06 Q3/Q3 9M/9M ª Increase in C/I ratio to 64.1% Net banking income 1,517 1,159 -23.6% -
Slide 35: Agenda
Group results Results of core businesses French Networks International Retail Banking Financial Services Global Investment Management & Services Corporate & Investment Banking Conclusion Supplements THIRD QUARTER AND 9 MONTH 2007 RESULTS 07 / 11 / 2007 35
Slide 36: Increase in 9M 07 results
SOCIETE GENERALE GROUP Increase in 9M 07 results Net income (In EUR m) Revenue growth: +6.3% +7.4%* vs. 9M 06 ROE 4,298 ROE after tax 4,042 after tax Low C/I ratio Corporate & 1,697 40% Investment Banking 48% 1,755 Low risk provisioning 602 GIMS Net income: +6.3% vs. 9M 06 429 432 Financial
Slide 37: Solid resistance of Group's diversified business model to financial crisis
SOCIETE GENERALE GROUP Solid resistance of Group’s diversified business model to financial crisis Very solid performance at all the retail banking activities High profitability at Corporate and Investment Banking over 9 months, despite a challenging quarter: ROE after tax in excess of 30% Robu
Slide 38: Supplementary Data
07 / 11 / 2007 SUPPLEMENTARY DATA
Slide 39: Quarterly income statement by core business
SUPPLEMENT - SOCIETE GENERALE GROUP Quarterly income statement by core business Global In EUR m Investment Corporate & French International Financial Management & Investment Corporate Networks Retail Banking Services Services Banking Centre Group Q3 07 Q3 06 Q3 07 Q3 06 Q3 07 Q3 06 Q3 07 Q3 06 Q3 07
Slide 40: 9-month income statement by core business
SUPPLEMENT - SOCIETE GENERALE GROUP 9-month income statement by core business Global In EUR m Investment Corporate & French International Financial Management & Investment Corporate Networks Retail Banking Services Services Banking Centre Group 9M 07 9M 06 9M 07 9M 06 9M 07 9M 06 9M 07 9M 06 9M 07 9
Slide 41: Change in risk-weighted assets
SUPPLEMENT - SOCIETE GENERALE GROUP Change in risk-weighted assets Average credit risk equivalent in EUR bn 320.7 308.8 293.0 275.1 281.4 268.2 259.1 95.0 Corporate & Investment 249.2 93.1 239.0 85.9 Banking 80.8 82.0 80.0 78.8 25.2 76.3 22.4 GIMS 72.8 20.6 19.4 19.5 Financial Services 19.0 39.8 17.
Slide 42: Customer deposits and savings
SUPPLEMENT - FRENCH NETWORKS Customer deposits and savings Average outstanding Change in EUR bn Q3 07/Q3 06 193.8 197.6 204.6 209.0 207.6 +7.1% 64.6 65.1 +11.7% LIFE INSURANCE* 60.2 62.4 58.3 Managed savings +8.7% SHARE ACCOUNTS 53.6 50.6 +5.2% MUTUAL FUNDS 48.1 49.6 52.7 OTHERS 2.2 +2.1% 2.1 2.2 2.
Slide 43: Customer loans
SUPPLEMENT - FRENCH NETWORKS Customer loans Average outstanding Change in EUR bn Q3 07/Q3 06 119.6 122.8 125.9 129.3 132.4 +10.8% INDIVIDUALS o.w.: 61.1 +12.2% 57.6 59.2 - Housing 54.4 56.1 - Consumer credit 9.5 9.5 9.5 +0.8% & overdrafts 9.5 9.5 BUSINESS 57.4 58.7 +10.6% 53.1 54.5 55.9 CUSTOMERS* B
Slide 44: Productivity of the French Networks
SUPPLEMENT - FRENCH NETWORKS Productivity of the French Networks Change since 1997 170 +61% Bank cards (No.) 160 +57% Savings accounts (No.) 150 140 130 +32% Individual customer current a/c (No.) 120 110 +2% Global headcount* 100 100 = 1997 90 80 -21% Administrative staff 70 1997 1999 2001 2003 2005
Slide 45: Interest margin of the French Networks
SUPPLEMENT - FRENCH NETWORKS Interest margin* of the French Networks The interest margin is an aggregate indicator dependent on three elements: Interest margin on loans As a % Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Structure effect, measured by the ratio Interest margin 3.11 3.05 3.
Slide 46: Specialised Financing: a major European player with diversified and growing businesses
SUPPLEMENT - FINANCIAL SERVICES Specialised Financing: a major European player with diversified and growing businesses Breakdown of Q3 07 NBI by activity Breakdown of Q3 07 NBI by geographical region Business Finance & Services Operational Vehicle Leasing Germany and Equipment & Fleet Management Ita
Slide 47: Change in risk-weighted assets
SUPPLEMENT - FINANCIAL SERVICES Change in risk-weighted assets Average credit risk equivalent in EUR bn 39.8 37.6 38.6 36.6 Operational Vehicle Leasing & 35.2 7.4 Fleet Management 7.1 7.2 6.9 6.6 15.8 16.4 Consumer Credit 14.6 15.1 14.1 Equipment Finance 14.3 14.7 15.1 15.3 15.7 IT Asset Leasing & M
Slide 48: Quarterly income statement
SUPPLEMENT – GLOBAL INVESTMENT MANAGEMENT & SERVICES Quarterly income statement In EUR m Asset Management Private Banking SG SS & Online Total GIMS Savings Q3 07 Q3 06 Change Q3 07 Q3 06 Change Q3 07 Q3 06 Change Q3 07 Q3 06 Change Net banking income 243 295 -19%* 201 156 +31%* 410 316 +22%* 854 767
Slide 49: 9-month income statement
SUPPLEMENT – GLOBAL INVESTMENT MANAGEMENT & SERVICES 9-month income statement In EUR m Asset Management Private Banking SG SS & Online Total GIMS Savings 9M 07 9M 06 Change 9M 07 9M 06 Change 9M 07 9M 06 Change 9M 07 9M 06 Change Net banking income 928 933 +1%* 590 484 +24%* 1,371 894 +37%* 2,889 2,
Slide 50: Breakdown of assets under management by type of product
SUPPLEMENT – ASSET MANAGEMENT Breakdown of assets under management by type of product EUR 374.6bn at September 30th 2007 Sept. 07 Sept. 06 345.0 354.0 371.2 393.4 374.6 73.6 Alternative 68.5 18% 16% Alternative (1) 60.1 66.6 Investment investment 55.1 57.2 Diversified (2) 56.0 55.9 54.7 55.9 38% Equ
Slide 51: Breakdown of assets under management by client segment
SUPPLEMENT – ASSET MANAGEMENT Breakdown of assets under management by client segment EUR 374.6bn at September 30th 2007 345.0 354.0 371.2 393.4 374.6 15% Third-party 15% 16% 14% 14% distribution 17% French 17% 17% 47% Retail 17% 18% Networks 13% 14% Life 14% 14% 15% 4% Insurance 4% 4% 4% Asia 4% 26%
Slide 52: Quarterly income statement
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Quarterly income statement Total Corporate & Investment Total Corporate & Investment In EUR m Banking (excluding Cowen) Banking Q3 07 Q3 06 Change Q3 07 Q3 06 Change Net banking income 1,159 1,517 -24% -22% * 1,159 1,521 -24% -22% * o.w. Financing & Adviso
Slide 53: 9-month income statement
SUPPLEMENT – CORPORATE & INVESTMENT BANKING 9-month income statement Total Corporate & Investment Total Corporate & Investment In EUR m Banking (excluding Cowen) Banking 9M 07 9M 06 Change 9M 07 9M 06 Change Net banking income 5,183 5,172 +0% +2% * 5,183 5,310 -2% +2% * o.w. Financing & Advisory 1,1
Slide 54: Change in risk-weighted assets
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Change in risk-weighted assets* Change over In EUR bn Change over 12 months 12 months like-for-like 96.3 +14.5% +19.8% 93.7 89.8 80.2 81.9 82.0 77.1 79.6 75.2 +9.6% Counterparty risk +52.2% Market risk Sep 05 Dec 05 Mar 06 Jun 06 Sep 06 Dec 06 Mar 07 Jun 0
Slide 55: Euro Capital Markets and Structured Finance rankings
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Euro Capital Markets Structured Finance Structured Finance Debt Capital Markets (1) *2007 2006 2005 Export Finance *2007 2006 2005 All bonds in euros #3 #5 #5 Best Export Finance Arranger (1) #1 #1 #1 All corporate bonds in euros #3 #2 #4 All financial
Slide 56: Derivatives awards and rankings
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Derivatives Highlights on New Awards & Rankings Q3 07 Equity Derivatives *2007 2006 2005 Best Equity Derivatives House Equity Derivatives House of the Year, Global 9(1) 9 (2) 9 (3) The Banker in Asia 9(5) 9(4) 9(4) in Europe 9(5) # 1 Equity Derivatives o
Slide 57: Exposure to US residential mortgage risk
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Exposure to US residential mortgage risk CDO: CDO: AAA super senior tranches junior RMBS At 30/09/2007 tranches Nominal after discount (EUR m) 1,333 1,721 1,771 0 550 0 Attachment point 31% 15% 32% NM NM NM Underlying mezzanine high grade mezzanine NM AAA
Slide 58: SPVs sponsored by SG CIB
SUPPLEMENT – CORPORATE & INVESTMENT BANKING SPVs* sponsored by SG CIB Commercial conduits Breakdown of underlying SG liquidity At 30/09/07 Asset size Rating Trade Commercial Consumer Equipment Residential line given (in EUR m) Auto loans receivables mortgages loans loans mortgages Other ANTALIS 5,
Slide 59: Exposure to LBO financing
SUPPLEMENT – CORPORATE & INVESTMENT BANKING Exposure to LBO financing 15th in IFR League Tables, no significant activities in the US Final take: EUR 3.0bn at 30/09/07 Average final take: less than EUR 25m Outstanding in underwriting: EUR 1.4bn at 30/09/07 SG CIB revenues: EUR 160m in 2006 EU
Slide 60: Corporate Centre
SUPPLEMENT - SOCIETE GENERALE GROUP Corporate Centre* GOI Income from the equity portfolio: EUR +72m In EUR m (vs. EUR +83m in Q3 06) Q3 07 Q3 06 Gross operating income 22 14 At September 30th 2007 Net income from other IFRS book value of industrial equity portfolio, (1) (3) assets excluding unr
Slide 61: Trading VaR
SUPPLEMENT – RISK MANAGEMENT Trading VaR* Quarterly average of 1-day, 99% Trading VaR (in EUR m) 47,9 Trading VaR 36,4 40,8 31,7 Credit 24,4 25,1 19,8 20,3 21,8 16,4 15,4 40,9 17,6 16,2 Fixed Income 15,2 16,3 10,8 13,6 10,7 11,8 12,4 12,3 12,6 14,6 12,7 Equity 11,6 12,8 15,6 42,4 20,3 16,2 15,5 40,4
Slide 62: Provisioning of doubtful loans
SUPPLEMENT – RISK MANAGEMENT Provisioning of doubtful loans 31/12/2006 31/03/2007 30/06/2007 30/09/2007 Customer loans (in EUR bn) 279 286 305 313 Doubtful loans (in EUR bn) 10.6 10.8 11.3 11.5 Doubtful loans/customer loans 3.8% 3.8% 3.7% 3.7% Provisions (in EUR bn)* 6.7 6.8 6.7 6.8 Overall coverage
Slide 63: Determination of number of shares used to calculate EPS and book value per share
TECHNICAL SUPPLEMENT Determination of number of shares used to calculate EPS and book value per share Average number of shares (thousands) 2005 2006 9M 07 Existing shares 437,836 443,065 462,700 Deductions Shares allocated to cover stock options awarded to staff and 16,456 11,939 8,698 restricted sh
Slide 64: Economic and financial environment
TECHNICAL SUPPLEMENT Economic and financial environment Q3 06 Q2 07 Q3 07 Interest rates (quarterly average) (%) 10-year French government bond 3.89 4.38 4.44 3-month euribor 3.22 4.06 4.49 Indices (end of period) CAC 40 5,250 6,055 5,716 EuroStoxx 50 3,899 4,490 4,382 Nasdaq 2,258 2,603 2,701 Curre
Slide 65: Investor Relations
07 / 11 / 2007 Investor Relations Patrick SOMMELET, Sayuri AOKI, Louise DE L’ESTANG, Stéphane MARTY, Pascale MASSOUD-AYOUB Tel.: +33 (0)1 42 14 47 72 E-mail: [email protected] - Internet: www.ir.socgen.com