Global Banking Directory (since 2007)
Press Release Distribution Service
Add Bank | Banking Forum
Advertise Your Business Here!
Search
  • World Islamic Banking Conference, 26-28, November, 2018
  • Banking and Finance Jobs
  • Advertise With Us!
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Press Release :: Société Générale

Logo Société GénéraleAt its August 3rd 2010 meeting, the Board of Directors of Societe Generale approved the financial statements for Q2 and H1 2010. With Group net income of EUR 1.08 billion in Q2 2010 (EUR 2.15 billion in H1), Societe Generale has confirmed its rebound.

The Group diversification of its international retail banking operation, continues to see a gradual recovery in the earnings of Specialized Financial Services’ activities as well as the Private Banking, Global Investment Management and Services division and has provided further evidence of the resilience of its market activities and the commercial dynamism of its financing offerings in Corporate and Investment Banking.

Frederic Oudea, the Group's Chairman and CEO, has stated: «H1 2010 testifies to the Group's new commercial momentum with an excellent performance from Retail Banking activities and a satisfactory contribution to the results from Corporate and Investment Banking despite a challenging market environment. The results published today confirm Societe Generale's rebound, while the company's transformation program, presented to the market on June 15th, is already under way, with the first portfolio arbitrages and the launch of projects for the sharing of information systems. In a macroeconomic environment in the process of stabilizing, I am more than ever confident of the Group's ability to achieve the objectives of its Ambition 2015 plan».

The economic recovery which began at end-2009 is growing stronger. However, it remains fragile with the strength of the recovery varying across geographical regions. In Europe, in particular, growth prospects remain moderate and, with the ongoing Greek crisis, a climate of substantial mistrust in relation to the sovereign debt of the most fragile European countries and the euro zone as a whole has spread to the financial and interbank markets.

In order to restore confidence in the European banking system, European regulators published (on July 23rd) the results of stress tests for 91 European banks as well as their exposure to sovereign issuers. This transparency exercise provided confirmation of the financial solidity of the vast majority of European banks, including the four main French banks, which had already proved their resilience during the recent crisis.

The quality of Societe Generale's portfolio of activities, in particular, is demonstrated with an estimated Tier 1 ratio under stress at end-2011 of 10%. Moreover, initial responses have been provided concerning the new banking regulatory framework "Basel III". However, crucial factors such as the ultimate calibration for capital requirements will only be known towards the end of the year.

Second Quarter 2010 Results (PDF, 182 KB).

Source: Société Générale
Date: 04.08.2010
Articles
 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: Middle East Global Advisors

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events

 On October 30-31, Prague will host Crypto Affiliate Conference 2017

Crypto Affiliate Conference 2017 will be a crucial stepping stone for the whole digital marketing community in the presently changing environment. 07.09.2017 | Source: Faunus

 6th Edition BFSI Innovation and Technology Summit 2017

Today Indian economy is considered as one of the fastest growing economies in the world and contributing to its high growth are many critical sectors, amongst which the BFSI sector is unarguably one of the most distinguished sectors of Indian economy. 21.07.2017 | Source: Exito Media Concepts


2007-2018 © Banking Directory