Societe Generale: update on Q4 18 Group performance
17 Gennaio 2019 - 07:15AM
Societe Generale: update on Q4 18 Group performance
UPDATE ON Q4 18 GROUP PERFORMANCE
Press releaseParis, 17 January
2019
- Q4 18 Group performance affected by IFRS 5 accounting
of disposals and a challenging environment in global capital
markets
- The Board of Directors of Societe Generale intends to
propose a stable dividend for 2018 (EUR 2.20 per share) and has
decided to propose to shareholders the option of a dividend payment
in shares
- Pro forma* Group CET1 ratio expected between 11.4% and
11.6% as of Q4 18
As a result of the IFRS 5 accounting of
disposals implemented by the Group, including the previously
announced sales of Societe Generale Serbia and of the Group’s stake
in La Banque Postale Financement, an exceptional charge of ca. EUR
-240 million will be booked in the Corporate Centre in Q4 18. The
challenging market environment in global capital markets is
expected to result in a decline in Global Markets and Investor
Services revenues of approximately -20% in Q4 18 vs. Q4 17 and of
approximately -10% in 2018 vs. 2017, as well as a significant
increase in market risk weighted assets. The performance of all the
activities within International Retail Banking and Financial
services as well as the Financing and Advisory businesses are
expected to be solid in Q4 18. French Retail Banking performance is
expected to be in line with guidance.2018 Group cost of risk is
expected to be within the 20-25bp range, as per Group guidance.The
Board of Directors of Societe Generale intends to propose a stable
dividend for 2018 (EUR 2.20 per share) and has decided to propose
to shareholders the option of a dividend payment in shares.Taking
into account signed transactions (both disposals and acquisitions)
and this decision of the Board of Directors, the Group CET1 ratio
on a pro forma basis* is expected to be between 11,4% and 11,6% as
of Q4 18, in line with its 12% CET1 target in 2020.
(*) Pro forma of signed transactions (disposals
and acquisitions), which are expected to generate ca. +26bp of
CET1, and assuming 50% of the 2018 dividend is paid in shares (ca.
+24bp of CET1)Press contacts:Antoine
Lhéritier _+33 1 42 13 68
99_ antoine.lheritier@socgen.com
Pascal Hénisse _+33 1 57 29 54 08
_ pascal.henisse@socgen.comCorentin
Henry _ +33 1 58 98 01 75 _
corentin.henry@socgen.com
@SG_presse
Societe Generale
Societe Generale is one of the leading European
financial services groups. Based on a diversified and integrated
banking model, the Group combines financial strength and proven
expertise in innovation with a strategy of sustainable growth,
aiming to be the trusted partner for its clients, committed to the
positive transformations of society and the economy.
Active in the real economy for over 150 years,
with a solid position in Europe and connected to the rest of the
world, Societe Generale has over 147,000 members of staff in 67
countries and supports on a daily basis 31 million individual
clients, businesses and institutional investors around the world by
offering a wide range of advisory services and tailored financial
solutions. The Group is built on three complementary core
businesses:
- French Retail Banking which encompasses the
Societe Generale, Crédit du Nord and Boursorama brands. Each offers
a full range of financial services with omnichannel products at the
cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial
Services to Corporates, with networks in Africa, Russia,
Central and Eastern Europe and specialised businesses that are
leaders in their markets;
- Global Banking and Investor Solutions, which
offers recognised expertise, key international locations and
integrated solutions.
Societe Generale is included in the principal
socially responsible investment indices: DJSI (World and Europe),
FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and
Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low
Carbon Leaders Index. For more information, you can follow us on
Twitter @societegenerale or visit our website
www.societegenerale.com
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