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# Société Générale Posts €1.37 Billion Q3 2024 Net Income as French NII Surges and Cost Ratio Improves
- URL: https://www.theglobalbanker.com/societe-generale-posts-1-37-billion-q3-2024-net-income-french-nii-surges-cost-ratio-improves/
- Published: 2024-10-31T14:49:00.000Z
- Updated: 2026-10-02T13:35:15.000Z
- Description: Société Générale reported Q3 2024 group net income of €1.37 billion with revenues up 10.5%, with French retail net interest income up 43%.
- Author: TGB Editorial Team
- Tags: Banking News, Europe, #archive

Société Générale reported group net income of EUR 1.367 billion for the third quarter of 2024, accompanied by revenues of EUR 6.84 billion, an increase of 10.5% year-on-year, the French bank disclosed on 31 October. The return on tangible equity for the quarter reached 9.6%. The cost-to-income ratio fell to 63.3%, a reduction of 7.1 percentage points compared with the third quarter of 2023.

The third-quarter figures contribute to a nine-month net income of EUR 3.16 billion. 

#### FRENCH RETAIL NET INTEREST INCOME

The third-quarter results included a 43% year-on-year increase in net interest income at the French Retail Banking division. 

#### CAPITAL AND 2024 TRAJECTORY

Société Générale's CET1 ratio stood at 13.3% at the nine-month mark, a level management characterised as consistent with the group's capital objectives and above regulatory requirements. 

Management confirmed the 2024 financial trajectory in the press release accompanying the results.