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home / news releases / SCGLF - Societe Generale: A Slowdown Is Expected In 2023

SCGLF - Societe Generale: A Slowdown Is Expected In 2023

Societe Generle Ord

Summary

  • Underlying net banking grew 6.2% in Q4 Y/Y and 9.7% in 2022. Underlying ROTE of 7.6% in Q4 and 9.6% in 2022.
  • Societe Generale's strongest performance was in International Retail & Financial Services, and weakness in French Retail.
  • Cost of risk at 28 bps in 2022. 2023 guidance set at 30-35 bps. Boursorama targets 17% client growth in 2023.
  • CET1 of 13.5% a 420 bps MDA buffer relative to 9.35% requirement.
  • 10% ROTE target for 2025 confirmed. I estimate 2023 ROTE at 8% before accelerating in 2024-2025.

For further details see:

Societe Generale: A Slowdown Is Expected In 2023
Stock Information
Company Name: Societe Generle Ord
Stock Symbol: SCGLF
Market: OTC
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