Q3 2025 Societe Generale SA Earnings Call Transcript
Key Points
- Societe Generale SA (SCGLF) reported a significant increase in revenues, up by 6.7% over the first nine months of 2025, reaching €20.5 billion, excluding asset disposals.
- The company achieved a cost to income ratio of 63.3% for the first nine months, better than the 2025 target of below 65%.
- The group's net income reached €4.6 billion in the first nine months of 2025, with a return on tangible equity of 10.5%, marking a 3.4% increase from the previous year.
- The CET1 ratio improved by 20 basis points this quarter, standing at 13.7% at the end of September 2025, above the target of 13%.
- Societe Generale SA (SCGLF) completed a €1 billion additional share buyback program, contributing to shareholder returns.
- The cost of risk in French retail banking showed a slight increase, particularly in the SME segment, due to a rise in bankruptcy rates.
- Equities revenues were impacted by negative day one P&L effects, which could potentially drag on future quarters.
- There is concern about the potential impact of proposed tax changes in France, which could affect capital distribution strategies.
- The company faces competitive pressure from new entrants like Revolut, which could impact customer acquisition strategies.
- There is ongoing scrutiny regarding litigation risks, particularly in relation to tax withholding issues, although no provisions have been made yet.
Ladies and gentlemen, welcome to the Social conference call. Gentlemen, please go ahead.
Good morning everyone. Welcome to our 9 month 2025 financial results presentation. I am pleased you could join us today.
In line with previous quarters, we are once again achieving a solid performance.
The financial indicators remain above our annual financial targets.
Our quarterly and nine-month revenues have grown significantly compared to last year.
This is happening while we continue to demonstrate discipline with regards to AWA organic growth, strict con cost control and risk management.
Over the first nine months of the year, revenues were up by 6.7% compared to last year, reaching â¬20.5 billion at the end of September, excluding asset disposals.
This highlights the strength and relevance of our commercial franchises and validates our strategic decision to be a more compact.
And
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