- Societe Generale
- 30 April 2026 13:29:50
Source: Sharecast
Net banking income were up just 0.3% year-on-year at €7.11bn, though this would have been 4.4% higher at constant perimeter and exchange rates.
French Retail, Private Banking and Insurance revenues were up +8.9% at €2.50bn, with net interest income rising strongly, while Mobility, International Retail Banking and Financial Services revenues rose 2.9% to €1.94bn.
However, Global Banking and Investor Solutions revenues were down 4.9% at €2.76bn, held back by a strong comparator, the bank said, with revenue declines registered in the Markets, Fixed Income and Currencies, Banking & Advisory and Transaction & Payment Services arms.
Nevertheless, the bottom line was helped by a 6.0% year-on-year fall in opex to €4.33bn, while the cost-to-income ratio shrank to 60.9% from 65.0% the year before.
That helped operating income grow 13.4% to €2.42bn.
“This quarter, we continued delivering a strong financial performance. Solid revenue momentum, structural reduction in costs, and ongoing improvement in our cost-to-income ratio led to a 2026 first quarter profitability level well above our full-year target," said chief executive Slawomir Krupa.
"Through the disciplined and rigorous execution of our strategic plan, we are moving forward with confidence towards achieving our 2026 financial targets and further strengthening Societe Generale’s position among leading European banks.”
The stock was 4.5% lower at €67.79 by 1313 BST.