Societe Generale Societe anonyme Q3 2026 Earnings Recap

Société Générale’s shares fell 1.5% after earnings, a roughly flat reaction. The quarter showed higher revenue and profitability, while results were uneven across businesses, with Mobility, International Retail Banking and Financial Services declining as Ayvens’ used-car sales results continued to normalize.

Key Takeaways

• Q3 revenue rose 7.8% year over year, or 8.4% at constant perimeter and exchange rates; net income reached a quarterly record of €1.9 billion and ROTE was 13%.
• French Retail, Private Banking and Insurance revenue increased 10.9%, supported by 12.7% growth in net interest income; Global Banking and Investor Solutions revenue rose 12.5%, with record equities performance.
• Mobility, International Retail Banking and Financial Services revenue fell 4.3% at constant perimeter and exchange rates, driven by lower used-car sales results at Ayvens.
• Costs increased 0.8%, while the cost-to-income ratio improved to 57.1% from 61% a year earlier. Cost of risk was 28 basis points, within the 25–30 basis-point guidance range.
• CET1 stood at 13.4% after the completed €1.5 billion share buyback; liquidity reserves were €358 billion, and the LCR was 145%.