Société Générale reported full-year 2024 group net income of EUR 4.2 billion, a 69% increase compared with the prior year, as the French bank confirmed it had met or exceeded every financial objective it had set out in its strategic programme. Group revenues for the twelve-month period reached EUR 26.8 billion, up 6.7% year on year. The results were published in a press release on the group's investor relations website.
PROFITABILITY AGAINST TARGETS
The bank's return on tangible equity for the year came in at 6.9%, ahead of its publicly stated guidance of above 6%. The cost-to-income ratio fell to 69%, below the target ceiling of 71%.
CAPITAL POSITION AND SHAREHOLDER DISTRIBUTION
Société Générale's Common Equity Tier 1 ratio stood at 13.3% at the end of the 2024 financial year, approximately 310 basis points above the regulatory minimum requirement.
The board proposed a 2024 shareholder distribution of about EUR 1.75 billion, equivalent to EUR 2.18 per share, comprising a EUR 1.09 cash dividend per share and a share buyback of about EUR 872 million.