GLE Societe Generale SA

   By Anthony Shevlin 
 

Societe Generale SA France (GLE.FR) said Thursday that its fourth quarter was affected by a challenging environment in global capital markets, and this will cause a decline in revenue in its Global Markets and Investor Services business.

The French bank expects revenue in this business to fall by around 20% in the fourth quarter and by 10% for 2018. Market-weighted risks should increase significantly, too, said the company.

Soc Gen said the performance of its Retail Banking and Financial Services as well as its Advisory business should be solid in the fourth quarter. French Retail Banking's performance is expected to be in line with expectations, said the company.

Soc Gen said its cost of risk is expected to be within the 0.2% to 0.25% range, as guided for in 2018.

The company proposed a 2018 dividend of 2.20 euros ($2.5) a share and shareholders have the option of a dividend payment in shares.

Furthermore, the company said an exceptional charge of EUR240 million will be booked in its Corporate Centre in the fourth quarter due to a result of the IFRS 5 accounting of disposals by the group.

Taking into account both disposals and acquisitions, Soc Gen said its CET1 ratio, on a pro forma basis, is expected to be between 11.4% and 11.6% as of the fourth quarter.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

January 17, 2019 01:57 ET (06:57 GMT)

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