tiprankstipranks
Societe Generale Reports Strong Q3 2024 Results
Company Announcements

Societe Generale Reports Strong Q3 2024 Results

Societe Generale ( (SCGLY) ) has released its Q3 earnings. Here is a breakdown of the information Societe Generale presented to its investors.

Don't Miss our Black Friday Offers:

Societe Generale, a prominent European bank, operates across multiple sectors including retail banking, private banking, insurance, global banking, and investor solutions, offering a range of financial services worldwide. In its latest earnings report, Societe Generale announced a robust financial performance for the third quarter of 2024, with a group net income of EUR 1.4 billion, showcasing significant growth compared to the previous year. Key highlights include a notable increase in net banking income by 10.5% year-on-year, driven by strong performance in their French retail and global banking segments. The bank also reported improved cost efficiency, with a cost-to-income ratio reduced to 63.3%. The bank’s capital and liquidity positions remain solid, with a Common Equity Tier 1 ratio of 13.2% and a liquidity coverage ratio of 152%. Looking ahead, Societe Generale’s management remains focused on executing its strategic plan, aiming for sustainable performance and long-term value creation.

Related Articles
TheFlySociete Generale price target raised to EUR 29 from EUR 26.50 at RBC Capital
TheFlySociete Generale upgraded to Buy from Neutral at Citi
TheFlySociete Generale upgraded to Overweight from Equal Weight at Morgan Stanley
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App