Q3 2023 Societe Generale SA Earnings Call Transcript
Ladies and gentlemen, welcome to the Societe Generale Third Quarter 2023 Results Conference Call. I now hand over to Mr. Slawomir Krupa, Chief Executive Officer. Sir, please go ahead.
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Thank you. Good morning, everyone. Thank you very much for joining our quarterly earnings call. This quarter was marked by a good commercial performance in most of our businesses, a limited increase in operating expenses and a low cost of risk. Global Banking and Investor Solutions, in particular, posted stable revenues compared to a high reference point reached last year.
And International Retail Banking maintained as well a solid performance. On the other hand, the group's net result was penalized by the negative effects of short-term hedges on net interest income in the French retail, the impact of which peaked in Q3 '23. It also includes, as announced during our
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