- Société Générale reported a third-quarter net income of €1.52 billion, which is an 11% increase year-on-year and above the estimated €1.31 billion.
- Net banking income for the quarter was €6.66 billion, a decline of 2.7% compared to the previous year but slightly above the estimate of €6.57 billion.
- Operating expenses decreased by 6.2% year-on-year, totaling €4.06 billion, which is lower than the estimated €4.14 billion.
- Operating income rose by 5.7% to €2.23 billion, surpassing the forecasted €2.04 billion.
- The bank set aside €369 million for loan losses, a reduction of 9.1% from the previous year, and better than the anticipated €379.8 million.
- Société Générale’s CET1 ratio fully-loaded stands at 13.7%, slightly exceeding the 13.5% estimate.
- Return on tangible equity increased to 10.7%, up from 9.6% the previous year and above the estimated 8.67%.
- The bank maintains its forecast for a cost-to-income ratio below 65% for the year.
- Return on tangible equity is expected to remain around 9% for the year.
- The CEO expressed confidence in achieving all annual objectives, praising the strong commercial and financial performance over the first nine months of the year.
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A look at Societe Generale Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to the Smartkarma Smart Scores, Societe Generale SA is positioned well for the long term. With a high Value score, the company is deemed to be undervalued relative to its intrinsic worth. This indicates potential for investors looking for opportunities in the market. Along with a strong Growth score, Societe Generale shows promising prospects for expanding its operations and increasing its market share. The company’s Momentum score suggests that it is gaining positive traction in the market, indicating a potentially upward trend in its performance.
Societe Generale SA, a bank offering a wide range of banking and financial services, also demonstrates a decent level of Resilience according to the scores. This suggests that the company has the ability to weather economic uncertainties and challenges. While the Dividend score is not the highest, the overall outlook for Societe Generale is positive, especially for investors looking at long-term growth potential in a reputable banking institution.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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