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.
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