Societe Generale S.a. Class A · EURONEXT:GLE
Societe Generale S.a. Class A — Q1 2019 Earnings Presentation
63 slides from Societe Generale S.a. Class A's earnings presentation, May 3, 2019
Slide 1: Societe Generale Group Results 1st quarter 2019
SOCIETE GENERALE GROUP RESULTS 1st quarter 2019 | 03.05.2019
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements relating to the targets and strategies of the Societe Generale Group. These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods
Slide 3: Introduction
1 INTRODUCTION
Slide 4: Q1 19 Key Highlights
Q1 19 KEY HIGHLIGHTS REVENUES (1) ADAPTING STRATEGY STRONG ON TRACK TO DELIVER OUR EUR 6.2 bn, -1.6% IN GLOBAL BANKING RISK PROFILE CAPITAL TRAJECTORY (Core businesses revenues +0.3%) AND INVESTOR Low cost of risk (21bp) CET1 up +55bp at 11.7%(2) OPERATING EXPENSES(1) SOLUTIONS EUR 4.3 bn, +2.9% Dec
Slide 5: Q1 19 Group Performance
2 Q1 19 GROUP PERFORMANCE
Slide 6: Q1 Group Performance
Q1 19 GROUP PERFORMANCE INSURANCE AND INTERNATIONAL GLOBAL BANKING AND CORPORATE FRENCH RETAIL BANKING FINANCIAL RETAIL BANKING INVESTOR SOLUTIONS CENTRE SERVICES Revenues Revenues Revenues Revenues EUR -113 m -3.2%, excl. PEL/CEL +8.3%* +3.8%* +1.1% (-1.8%*) Gross operating income vs. Q1 18 vs. Q1
Slide 7: Strong Risk Profile
STRONG RISK PROFILE _Cost of risk(1) (in bp) Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 29 30 25 NON-PERFORMING LOANS FRENCH RETAIL BANKING 20 20 RATIO MAR 15 MAR 16 MAR 17 MAR 18 MAR 19 INTERNATIONAL RETAIL 37 39 28 33 BANKING AND FINANCIAL 23 5.5% SERVICES 5.0% 4.8% 4.2% 25 3.5% GLOBAL BANKING AND 4 10 2 INVES
Slide 8: Strong Increase in CET1 Comforting Our Capability to Reach 12% Target
STRONG INCREASE IN CET1 COMFORTING OUR CAPABILITY TO CET1(1) AT 11.7% REACH 12% TARGET +25bp -10bp Around 180bp over MDA threshold _Q1 19: change in fully-loaded CET1(1) ratio (in bp) +20bp 11.7% TLAC(3) RATIO: 25.2% OF RWA Already meeting requirements +7bp -2bp +23bp AHEAD OF FUTURE MREL Hybrid cou
Slide 9: Group Results
GROUP RESULTS In EUR m Q1 19 Q1 18 Change Net banking income 6,191 6,294 -1.6% -1.9%* Underlying net banking income(1) 6,191 6,294 -1.6% -1.9%* Operating expenses (4,789) (4,729) +1.3% +1.3%* REVENUES(1) Underlying operating expenses(1) (4,345) (4,223) +2.9% +2.9%* EUR 6.2 bn, -1.6% vs. Q1 18 Gross
Slide 10: Business Performance
3 BUSINESS PERFORMANCE
Slide 11: Developing Business Initiatives in French Retail Banking
DEVELOPING BUSINESS INITIATIVES IN FRENCH RETAIL BANKING DEVELOPING INDIVIDUAL CORE CLIENT BASE Private Banking EUR 64.9 bn (+4.9%) AuM +3% INDIVIDUAL EUR 1.2 bn Net inflows in Q1 19 # of wealthy and mass affluent clients CLIENTS LOANS OUTSTANDINGS Life insurance ~1.8m Boursorama clients as of 31 Ma
Slide 12: French Retail Banking Results
FRENCH RETAIL BANKING RESULTS REVENUES Q1 19 revenues(1) stable vs. Q4 18 (-3.2% vs. Q1 18) Net interest income(1) increasing vs. Q4 18 In EUR m Q1 19 Q1 18 Change (-3.3% vs. Q1 18) Net banking income 1,916 2,008 -4.6% Net banking income excl. PEL/CEL 1,928 1,992 -3.2% Fees decreasing vs. Q1 18, wit
Slide 13: Strong Commercial Momentum Across Regions in International Retail Banking
STRONG COMMERCIAL MOMENTUM ACROSS REGIONS IN INTERNATIONAL RETAIL BANKING EUROPE RUSSIA(1) AFRICA AND OTHER _Loan Outstandings _Deposit Outstandings _Loan Outstandings _Deposit Outstandings _Loan Outstandings _Deposit Outstandings (EUR bn) (EUR bn) (EUR bn) (EUR bn) (EUR bn) (EUR bn) +6%* +4%* 59.9
Slide 14: Further Strengthening the Growth Platform in a Solid Environment
FURTHER STRENGTHENING THE GROWTH PLATFORM IN A SOLID ENVIRONMENT LEVERAGE ON FAVOURABLE MARKET DYNAMICS Positive tailwind in Central Europe and Russia | Strong momentum in Consumer Finance | Strong long term outlook in Africa STRENGTHEN FURTHER IMPROVE COMMERCIAL PLATFORMS OPERATIONAL EFFICIENCY Sta
Slide 15: Solid Profitability in Insurance and Financial Services
SOLID PROFITABILITY IN INSURANCE AND FINANCIAL SERVICES SUSTAINED GROWTH THROUGH BANCASSURANCE 32 MODEL PROFITABLE GROWTH IN FINANCIAL SERVICES _Total insurance revenues within the Group (EUR bn) _ALD Total fleet (‘000 000) _SGEF Loan and Lease Outstandings(3) (EUR bn) +13% CAGR2016-2018 +9% 2.3 2.1
Slide 16: International Retail Banking and Financial Services Results
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES RESULTS GOOD REVENUE MOMENTUM In EUR m Q1 19 Q1 18 Change EUR 2,076 m (+6.8%* vs. Q1 18) Net banking income 2,076 1,989 +4.4% +6.8%* Operating expenses (1,204) (1,179) +2.1% +5.1%* SUSTAINED HIGH OPERATING Gross operating income 872 810 +7.7% +9.3%
Slide 17: Good Momentum in Financing & Advisory, Muted Start in Global Markets
GOOD MOMENTUM IN FINANCING & ADVISORY, MUTED START TO THE YEAR IN GLOBAL MARKETS GLOBAL MARKETS & INVESTOR SERVICES REVENUES: FINANCING & ADVISORY REVENUES: -7% VS. Q1 18 +19% VS. Q1 18 _Global Markets Revenues (EUR m) _Revenues (EUR m) 580 535 494 450 366 FICC Equities 665 692 716 711 600 659 696 5
Slide 18: Global Banking and Investor Solutions Results
GLOBAL BANKING AND INVESTOR SOLUTIONS RESULTS In EUR m Q1 19 Q1 18 Change REVENUES UP 1.1% (-1.8%*) Net banking income 2,239 2,215 +1.1% -1.8%* Strong revenue growth in Financing & Advisory Operating expenses (2,026) (2,024) +0.1% -1.6%* Low client activity in Global Markets Gross operating income 2
Slide 19: Refocus on Core Expertise in Global Markets
REFOCUS ON CORE EXPERTISE IN GLOBAL MARKETS OUR STRATEGY IN GLOBAL CONCENTRATE RESOURCES EUR 8 BN RWA REDUCTION MARKETS IS BASED ON ON MOST PROFITABLE 2020 TARGET* THREE FRANCHISES ACTIVITIES & RESTRUCTURE FLOW STRENGTHEN LEADERSHIP IN CROSS-ASSET INVESTMENT SOLUTIONS Closure of OTC commodities INCR
Slide 20: Reduce Costs Across Global Banking and Investor Solutions
REDUCE COSTS ACROSS GLOBAL BANKING AND INVESTOR SOLUTIONS SAVINGS GLOBAL MARKETS AND INVESTOR SERVICES EUR 500M Business closures and staff reduction in global markets, primarily in FICC In Securities Services, exit from wealth management services and clearing in the UK GLOBAL MARKETS & FINANCING &
Slide 21: Towards a More Efficient and Capital Light Business Model
TOWARDS A MORE EFFICIENT AND CAPITAL LIGHT BUSINESS MODEL 2019 2020 EUR 10bn RWA optimisation 75% 25% o/w. EUR 8bn in Global Markets EUR 500m of cost savings 20/30% 70/80% EUR -250 to -300 m restructuring costs 100% 0% Contribution of closed and downsized businesses EUR 300 m revenues to 2018 revenu
Slide 22: Corporate Centre
CORPORATE CENTRE In EUR m Q1 19 Q1 18 Net banking income (40) 82 GROSS OPERATING INCOME Operating expenses (73) (46) EUR -113 m in Q1 19 Gross operating income (113) 36 Net cost of risk 0 (10) NET PROFITS OR LOSSES FROM OTHER Net profits or losses from other assets (53) (4) ASSETS Reported Group net
Slide 23: Deep Dive: Save the Date
SAVE THE DATE - 7 MAY 2019 DEEP DIVE GLOBAL BANKING AND FRENCH RETAIL BANKING INVESTOR SOLUTIONS
Slide 24: Supplement
4. SUPPLEMENT
Slide 25: At the Forefront of Positive Transformations
AT THE FOREFRONT OF POSITIVE TRANSFORMATIONS DRAWING ON INNOVATIVE SKILLS AND PIONEERING SPIRIT ANCHORING A CULTURE OF RESPONSIBILITY Developing disruptive business solutions using blockchain: SG A Culture & Conduct programme sponsored by issued first covered bond as a security token on a public blo
Slide 26: Group Quarterly Income Statement by Core Business
GROUP QUARTERLY INCOME STATEMENT BY CORE BUSINESS International Retail Banking Global Banking and Investor French Retail Banking Corporate Centre Group and Financial Services Solutions In EUR m Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Net banking income 1,916 2,008 2,076 1,989 2,2
Slide 27: Group: Underlying Data Reconciliation with Reported Figures
GROUP: UNDERLYING DATA RECONCILIATION WITH REPORTED FIGURES Net profit or losses Q1 19 (in EUR m) Net Banking Income Operating Expenses Group net income from other assets Reported 6,191 (4,789) (51) 631 (+) IFRIC 21 linearisation 444 304 (-)IFRS 5 effect on Group refocusing plan* (53) (75) Underlyin
Slide 28: Group IFRIC 21 Impact
GROUP IFRIC 21 IMPACT International Retail Banking and Financial Global Banking and French Retail Banking Services Investor Solutions Corporate Centre Group In EUR m Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Total IFRIC 21 Impact - costs (99) (108) (107) (124) (337) (392) (49) (50)
Slide 29: Group CRR/CRD4 Prudential Capital Ratios
GROUP CRR/CRD4 PRUDENTIAL CAPITAL RATIOS _Fully Loaded Common Equity Tier 1, Tier 1 and Total Capital In EUR bn 31/03/2019 31/12/2018 Shareholder equity Group share 61.8 61.0 Deeply subordinated notes* (9.5) (9.3) Undated subordinated notes* (0.3) (0.3) Dividend to be paid & interest on subordinated
Slide 30: Group CRR Leverage Ratio
GROUP CRR LEVERAGE RATIO _CRR Fully Loaded Leverage Ratio(1) 31/03/2019 31/12/2018 In EUR bn Tier 1 Capital 52.5 51.4 Total prudential balance sheet 1,228 1,175 Adjustement related to derivative exposures(2) (66) (46) Adjustement related to securities financing transactions* (9) (11) Off-balance she
Slide 31: Group TLAC / MREL: Already Meeting Requirements
GROUP TLAC / MREL: ALREADY MEETING REQUIREMENTS WELL ADVANCED ON UPCOMING SUBORDINATION RULES _TLAC ratio _MREL ratio Already meeting requirements Already meeting total requirements (notification received in June 2018) The Group funding plan not relying on the tolerance of Senior Preferred Subordina
Slide 32: Progress on the EU Package for MREL
PROGRESS ON THE EU PACKAGE FOR MREL 2018 2019 2020 2021 2022 2023 2024 BRRD1 BRRD2 _Current MREL Requirement _Future Total MREL Requirements (1) _Future MREL Subordination(1) 8% TLOF (~24,36% based on 2016 B/S) [26%-27%] in 2024 The MREL ratio is a minimum requirement for own funds 23%+ccy and eligi
Slide 33: Group Risk-Weighted Assets
GROUP RISK-WEIGHTED ASSETS* (CRR/CRD 4, IN EUR BN) 376.0 366.1 142.3 355.7 133.7 49.6 129.7 49.5 48.9 23.7 116.8 119.7 117.4 33.1 16.6 17.3 Total 7.7 33.0 7.7 0.1 7.5 32.2 0.1 0.0 96.8 97.5 99.1 21.8 Operational 5.4 5.5 5.5 0.1 15.1 0.0 0.1 16.3 Market Credit 290.1 302.7 299.2 109.0 111.9 109.8 91.4
Slide 34: Group Change in Gross Book Outstandings
GROUP CHANGE IN GROSS BOOK OUTSTANDINGS* End of period in EUR bn 496.6 501.2 502.4 483.1 482.1 491.1 475.5 472.7 478.7 Total Global Banking 136.0 138.7 156.7 158.0 164.9 164.2 and Investor Solutions 155.8 137.9 135.5 International Retail Banking and Financial Services 133.5 135.4 138.7 140.0 139.7 1
Slide 35: Group Non Performing Loans
GROUP NON PERFORMING LOANS In EUR bn 31/03/2019 31/12/2018 31/03/2018 Gross book outstandings* 502.4 501.2 482.1 Doubtful loans* 17.7 18.0 20.4 Group Gross non performing loans ratio* 3.5% 3.6% 4.2% Stage 1 provisions 0.9 0.9 1.0 Stage 2 provisions 1.0 1.0 1.2 Stage 3 provisions 9.7 9.7 11.3 Group G
Slide 36: Group Change in Trading VaR and Stressed VaR
GROUP CHANGE IN TRADING VAR* AND STRESSED VAR** _Quarterly Average of 1-Day, 99% Trading VaR* (in EUR m) 30 32 19 19 17 18 21 18 15 Trading VaR* 6 8 8 Credit 6 6 18 16 5 8 5 4 Interest Rates 15 13 12 11 12 13 Equity 11 Forex 19 19 17 15 14 13 15 12 14 Commodities 5 3 3 3 3 3 4 4 4 Compensation Effec
Slide 37: Group Diversified Exposure to Russia
GROUP DIVERSIFIED EXPOSURE TO RUSSIA _EAD as of Q1 19: EUR 16.9bn Other Corporates Sovereign ONSHORE Financial Institutions 4% 16% 8% 0% Car loans MAJ 21% données Q1 19 23% Corporates Mortgages 47% Tier 1(1) Retail 36% 28% Consumer 4% loans 13% Other OFFSHORE (1) Top 500 Russian corporates and multi
Slide 38: Group Funding Structure
GROUP FUNDING STRUCTURE 31 DECEMBER 2018 31 MARCH 2019 Due to Customers Due to Banks 417 410 Financial Liabilities at Fair Value through Profit or Loss - Structured Debt o.w. Securities sold to customer 10 17 under repurchase agreements Debt Securities Issued(1) 95 96 o.w. Securities sold to bank un
Slide 39: Group Long Term Funding Programme
GROUP LONG TERM FUNDING PROGRAMME _2019 Expected funding program(1) Parent company 2019 funding programme similar to 2018 Senior Preferred and Secured debt ~EUR 6/8 bn ~ EUR 17 bn of vanilla debt, well balanced across the different debt formats Senior Non Preferred debt ~EUR 6/7 bn Annual struct
Slide 40: Group Long Term Funding Breakdown
GROUP LONG TERM FUNDING BREAKDOWN(1) 31.03.2019 10% 16% 12% Senior Non-Preferred Issues EUR 189bn Senior Vanilla Preferred Subordinated Debt(2) Unsecured Issues(3) 12% LT Interbank Liabilities(5) 30% Senior Structured Issues Subsidiaries 8% Secured Issues(4) 12% (1) See : Methodology (2) Including u
Slide 41: Group Liquid Asset Buffer
GROUP LIQUID ASSET BUFFER _Liquid Asset Buffer (in EUR bn) 167 164 176 172 177 75 84 73 70 82 Central Bank Deposits(1) 77 79 84 73 76 High Quality Liquid Asset Securities(2) 16 15 16 17 17 Central Bank Eligible Assets(2) Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Liquidity Coverage Ratio at 140% on average in Q1
Slide 42: Group EPS Calculation
GROUP EPS CALCULATION Average number of shares (thousands) Q1 19 2018 2017 Existing shares 807,918 807,918 807,754 Deductions Shares allocated to cover stock option plans and free 4,467 5,335 4,961 shares awarded to staff Other own shares and treasury shares 374 842 2,198 Number of shares used to ca
Slide 43: Group Net Asset Value, Tangible Net Asset Value
GROUP NET ASSET VALUE, TANGIBLE NET ASSET VALUE End of period Q1 19 2018 2017 Shareholders' equity Group share 61,830 61,026 59,373 Deeply subordinated notes (9,473) (9,330) (8,520) Undated subordinated notes (283) (278) (269) Interest net of tax payableto holders of deeply subordinated notes & unda
Slide 44: Group ROE/ROTE Calculation Detail
GROUP ROE/ROTE CALCULATION DETAIL End of period Q1 19 Q1 18 Shareholders' equity Group share 61,830 58,925 (9,473) (8,362) Deeply subordinated notes Undated subordinated notes (283) (263) Interest net of tax payable to holders of deeply subordinated notes & undated subordinated notes, interest paid
Slide 45: French Retail Banking Change in Net Banking Income
FRENCH RETAIL BANKING CHANGE IN NET BANKING INCOME Change Q1 19 vs. Q1 18 2,008 1,991 1,949 1,912 1,916 -4.6% NBI in EUR m 205 202 -8.9% 198 193 187 Financial Fees Commissions -2.5% vs. Q1 18 622 -0.4% 638 634 626 620 Service Fees 148 146 109 -6.2% 141 139 Other Income Interest margin(1) Net Interes
Slide 46: French Retail Banking Customer Deposits and Financial Savings
FRENCH RETAIL BANKING CUSTOMER DEPOSITS AND FINANCIAL SAVINGS Change Average outstanding in EUR bn Q1 19 vs. Q1 18 305 308 310 309 310 +1.5% Financial +0.7% savings: EUR 107.0bn 93 93 94 92 94 Life Insurance -2.6% -20.6% Mutual Funds 16 16 14 15 13 0 0 0 0 -53.2% 0 Others (SG redeem. Sn) 104 108 109
Slide 47: French Retail Banking Loans Outstanding
FRENCH RETAIL BANKING LOANS OUTSTANDING Change Average outstanding, net of provisions in EUR bn Q1 19 vs. Q1 18 Individual Customers 184 185 188 189 192 +4.3% o.w. Housing 99 99 100 +2.8% 97 98 Consumer Credit and Overdraft 12 12 12 13 13 +4.6% +6.2% Business 74 75 76 77 79 Customers* 0.2 0.2 0.2 0.
Slide 48: International Retail Banking and Financial Services Quarterly Results
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES QUARTERLY RESULTS International Retail Banking Insurance Financial Services to Corporates Total In EUR m Q1 19 Q1 18 Change Q1 19 Q1 18 Change Q1 19 Q1 18 Change Q1 19 Q1 18 Change Net banking income 1,387 1,328 +8.3%* 231 226 +2.4%* 458 435 +4.6%*
Slide 49: Quarterly Results of International Retail Banking Breakdown by Region
QUARTERLY RESULTS OF INTERNATIONAL RETAIL BANKING BREAKDOWN BY REGION Africa, Asia, Total International Western Europe Czech Republic Romania Other Europe Russia (1) Mediterranean bassin Retail Banking and Overseas In M EUR Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 1
Slide 50: International Retail Banking and Financial Services Loan and Deposit Outstandings
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES LOAN AND DEPOSIT OUTSTANDINGS BREAKDOWN _Loan Outstandings Breakdown (in EUR bn) _Deposit Outstandings Breakdown (in EUR bn) Change March 19/March 18 Change March 19/March 18 1.0 1.0 -0.2%* 82.9 o.w. Equipment 80.6 17.2 +5.0%* 17.9 Finance(1) +8.0%
Slide 51: International Retail Banking and Financial Services Insurance Key Figures
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES INSURANCE KEY FIGURES _Life Insurance Outstandings and Unit Linked Breakdown (in EUR bn) _Personal Protection Insurance Premiums (in EUR m) 114.0 115.4 116.5 115.4 118.4 Change Unit Linked 262 277 257 260 259 Q1 19 vs. Q1 18 27% 27% 28% 26% 27% Eur
Slide 52: International Retail Banking and Financial Services SG Russia
INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICES SG RUSSIA(1) _SG Russia Results In EUR m Q1 19 Q1 18 Change Net banking income 199 190 +12.5%* Operating expenses (144) (149) +3.2%* Gross operating income 55 41 +46.9%* Net cost of risk (29) (16) +93.8%* Operating income 26 25 +16.5%* Group net in
Slide 53: Global Banking and Investor Solutions Quarterly Results
GLOBAL BANKING AND INVESTOR SOLUTIONS QUARTERLY RESULTS Global Markets and Investor Total Global Banking and Investor Financing and Advisory Asset and Wealth Management Services Solutions In EUR m Q1 19 Q1 18 Change Q1 19 Q1 18 Change Q1 19 Q1 18 Change Q1 19 Q1 18 Change Net banking income 1,273 1,
Slide 54: Global Banking and Investor Solutions Risk-Weighted Assets
GLOBAL BANKING AND INVESTOR SOLUTIONS RISK-WEIGHTED ASSETS IN EUR BN _Global Markets and Investor Services 66.6 73.4 67.7 24.9 24.6 24.9 13.9 19.4 13.3 28.1 29.1 29.5 Operational Q1 18 Q4 18 Q1 19 Market _Financing and Advisory _Asset and Wealth Management Credit 52.1 57.9 56.2 11.1 11.0 9.8 6.2 1.2
Slide 55: Global Banking and Investor Solutions Revenues
GLOBAL BANKING AND INVESTOR SOLUTIONS REVENUES _Global Markets and Investor Services Revenues (in EUR m) _Asset and Wealth Management Revenues (in EUR m) 5 5 214 6 5 3 178 Securities 47 44 165 199 52 Services 45 47 580 177 Others 535 494 450 Fixed Income, 366 Currencies Lyxor and 205 206 Commodities
Slide 56: Global Banking and Investor Solutions Key Figures
GLOBAL BANKING AND INVESTOR SOLUTIONS KEY FIGURES _Private Banking: Assets under Management(1) (in EUR bn) _Lyxor: Assets under Management (in EUR bn) 117 119 125 118 121 117 119 121 113 113 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 _Securities Services: Assets under Custody (in EU
Slide 57: Global Banking and Investor Solutions CVA/DVA Impact
GLOBAL BANKING AND INVESTOR SOLUTIONS CVA/DVA IMPACT NBI impact Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Equities (1) 2 3 (9) 10 Fixed income,currencies,commodities (4) (3) 9 (20) 19 Financing and Advisory (3) (4) 8 (21) 11 Total (9) (5) 19 (51) 39 1ST QUARTER 2019 RESULTS 3 MAY 2019 57
Slide 58: Global Banking and Investor Solutions League Tables - Rankings - Awards
GLOBAL BANKING AND INVESTOR SOLUTIONS LEAGUE TABLES - RANKINGS - AWARDS Global Markets and Investor Services Structure Retail Products Europe CTA Intelligence US Services Structure Retail Products Africa Best House Europe Awards Best Proprietary Index Provider in Africa Best House Equities Best Capi
Slide 59: Financing & Advisory Supporting Clients in Their Transformations
FINANCING & ADVISORY SUPPORTING CLIENTS IN THEIR TRANSFORMATIONS CLIENT PROXIMITY MSC INNOVATION Debt arranger, MLA, Bookrunner, Facility and USD 177 m Japanese Operating Lease in favour of MSC for the financing of two containerships built in China PRODUCT EXCELLENCE Security Agent INDUSTRY EXPERTIS
Slide 60: Methodology (1/3)
METHODOLOGY (1/3) 1 – The Group’s consolidated results as at March 31th, 2019 were approved by the Board of Directors on May 2nd, 2019. The financial information presented in respect the quarter ended March 31st, 2019 has been prepared in accordance with IFRS as adopted in the European Union and app
Slide 61: Methodology (2/3)
METHODOLOGY (2/3) 6 – Cost of risk in basis points, coverage ratio for non performing loans The cost of risk or commercial cost of risk is defined on pages 42 and 562 of Societe Generale’s 2019 Registration Document. This indicator makes it possible to assess the level of risk of each of the pillars
Slide 62: Methodology (3/3)
METHODOLOGY (3/3) The net result by the group retained for the numerator of the ratio is the net profit attributable to the accounting group adjusted by the interest, net of taxes to be paid on TSS & TSDI, interest paid to the holders of TSS & TSDI amortization of premiums issues and unrealized gain
Slide 63: Investor Relations Team
INVESTOR RELATIONS TEAM [email protected] www.societegenerale.com/en/investors