Société Générale beats record profit with 5,400 million by September

O Société Générale recorded a record net profit of 5,400 million euros by September, an annual increase of 17.3%, driven by revenue growth and cost reduction, the French banking institution reported today.

Between January and September, the bank’s revenues increased by 4.1% in homologous terms, reaching 21,400 million euros, while costs decreased by 3.2%, contributing to improving the operating ratio to 58.8%, below the annual target of less than 60%.

The bank also obtained a return on tangible capital (ROTE) of 12.3% in the period under review, above the target set for 2026, of about 11%.

The risk cost was 27 basic points during the first nine months, within the range predicted by the bank for 2026, between 25 and 30 basic points.

In the third quarter alone, net profit reached a new record of EUR 1,900 million, with a ROTE of 13%.

From July to September, revenues increased by 7.8% in annual variation and costs increased by 0.8%.

At the end of the third quarter, the solvency level, measured by the CET1 capital ratio, stood at 13.4%, about 320 basis points above the regulatory requirement, the French bank indicated.

Cited in a statement, the group’s executive president, Slawomir Krupa, stated that “Société Générale re-records very solid quarterly results”, which demonstrates “the group’s ability to combine growth, operational efficiency, risk control and capital generation.”.

The CEO also stated that the bank will continue to “execut the profitable growth strategy” to achieve the goals for 2029 and generate “sustainable value” for shareholders, customers and employees.