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Societe Generale: Appointment within the Societe Generale Group
Globenewswire· 2025-02-24 07:00
Appointment Overview - Societe Generale has appointed Lubomira Rochet as Executive Vice President overseeing Retail Banking activities in France, Private Banking, and Insurance, effective April 2025 [1][2] - Rochet will also serve as the Group's Chief Operating Officer, managing technology, procurement, and real estate [1][2] Leadership and Responsibilities - Rochet will assist Slawomir Krupa, the CEO, in managing the Retail Banking sector, including the SG retail network and BoursoBank [2][4] - Her role will focus on enhancing customer experience, business growth, and operational efficiency within the Group [3][4] Professional Background - Rochet has extensive experience in business transformation and digital operations, having held significant roles at Sogeti, Microsoft, Valtech, and L'Oréal [5] - She has been a Partner at JAB Holding Company LLC since 2021 and served as an independent Director on Societe Generale's Board from 2017 to 2024 [5] Company Profile - Societe Generale is a leading European bank with over 126,000 employees serving approximately 25 million clients in 65 countries [6] - The Group operates three main business segments: French Retail, Private Banking, and Insurance, with a strong emphasis on ESG offerings [7][8]
Societe Generale: Information regarding executed transactions within the framework of a share buyback program (outside the liquidity agreement)
Globenewswire· 2025-02-17 16:55
Core Points - Societe Generale initiated a share buyback program amounting to EUR 872 million aimed at share cancellation, starting from February 10, 2025 [1][2] - The buyback program is authorized by supervisory authorities and complies with the conditions set forth in the General Meeting of May 22, 2024 [2] - As of February 14, 2025, Societe Generale completed 12% of its buyback program, which represents 0.4% of its total share capital [3] Buyback Details - The buyback transactions occurred from February 10 to February 14, 2025, with a total of 2,827,803 shares repurchased at a daily weighted average price of EUR 36.6008 [4][5] - The daily breakdown of shares purchased includes: - February 10: 601,244 shares at prices ranging from EUR 35.7415 to EUR 35.7792 [4] - February 11: 594,546 shares at prices ranging from EUR 36.1305 to EUR 36.1667 [5] - February 12: 525,676 shares at prices ranging from EUR 37.0716 to EUR 37.1056 [5] - February 13: 550,947 shares at prices ranging from EUR 37.1090 to EUR 37.2202 [5] - February 14: 545,390 shares at prices ranging from EUR 36.9096 to EUR 36.9131 [5] Company Overview - Societe Generale is a leading European bank with over 126,000 employees serving approximately 25 million clients across 65 countries [6] - The bank offers a wide range of financial solutions and is committed to sustainable value creation for its stakeholders [6][7] - Societe Generale operates three main business segments: French Retail Banking, Global Banking and Investor Solutions, and International Retail Banking and Financial Services, with a focus on ESG offerings [7][8]
Societe Generale: shares and voting rights as of 31 January 2025
Globenewswire· 2025-02-12 16:54
Core Points - The total number of shares composing the current share capital as of 31 January 2025 is 800,316,777 shares [2] - The total number of voting rights is reported as 885,499,593 [2] Company Overview - Societe Generale is a leading European bank with over 126,000 employees serving approximately 25 million clients across 65 countries [3] - The bank has been operational for 160 years, providing a wide range of advisory and financial solutions to corporate, institutional, and individual clients [3] - Societe Generale emphasizes sustainable value creation for all stakeholders through its long-lasting client relationships and innovative solutions [3] Business Segments - The Group operates three complementary business sets, integrating ESG offerings for all clients [4] - Societe Generale aims to be a leading partner in environmental transition and sustainability, being included in major socially responsible investment indices [4] - The bank's business segments include French Retail, Private Banking and Insurance, Global Banking and Investor Solutions, and Mobility, International Retail Banking and Financial Services [6]
Societe Generale: Fourth quarter & 2024 full year results
Globenewswire· 2025-02-06 05:25
Group Financial Performance - Group net income for 2024 reached EUR 4.2 billion, representing a 69% increase compared to 2023 [1] - Annual revenues amounted to EUR 26.8 billion, up by 6.7% from 2023, exceeding the target of ≥5% growth [1] - Cost-to-income ratio improved to 69.0%, below the target of <71% for 2024, due to stable operating expenses [1][15] - Return on Tangible Equity (ROTE) was 6.9%, surpassing the target of >6% for 2024 [1] - Common Equity Tier 1 (CET1) ratio stood at 13.3%, approximately 310 basis points above the regulatory requirement [1][24] Shareholder Distribution - Proposed distribution to shareholders increased by 75% compared to 2023, totaling EUR 1,740 million or EUR 2.18 per share [2][20] - A cash dividend of EUR 1.09 per share is to be proposed, alongside a share buyback program of EUR 872 million [5][20] - The payout ratio is set to increase to 50% of net income [6][20] 2025 Financial Targets - Revenue growth is targeted at more than 3% compared to 2024 [3] - Operating costs are expected to decrease by more than 1% compared to 2024 [3] - Cost-to-income ratio is aimed to improve to less than 66% in 2025 [3] - ROTE is projected to exceed 8% in 2025 [3] - CET1 ratio is expected to remain above 13% throughout 2025 [3] Business Segment Performance French Retail, Private Banking and Insurance - Net banking income increased by 15.5% to EUR 2.3 billion in Q4 24 compared to Q4 23 [30] - Net interest income rose by 36.2% to EUR 1.1 billion in Q4 24 [30] - Group net income from this segment reached EUR 360 million, up 4.0 times from Q4 23 [30] Global Banking and Investor Solutions - Revenues grew by 12.4% to EUR 2.5 billion in Q4 24 compared to Q4 23 [11][43] - Total revenues for 2024 reached EUR 10.1 billion, a 5.0% increase from 2023 [43] - Group net income for this segment was EUR 627 million, up 34.4% from Q4 23 [55] Mobility, International Retail Banking and Financial Services - Net banking income rose by 2.0% to EUR 2.1 billion in Q4 24 compared to Q4 23 [62] - Group net income for this segment was EUR 314 million, a 10.5% increase from Q4 23 [70] Cost Management - Operating expenses for the group were stable at EUR 4,595 million in Q4 24, down 1.5% from Q4 23 [14] - The cost-to-income ratio improved significantly from 78.3% in Q4 23 to 69.4% in Q4 24 [15] - Cost of risk decreased to 23 basis points in Q4 24, reflecting effective risk management [16][41]
Societe Generale: Half-Year statement on the Liquidity agreement
Globenewswire· 2025-01-15 16:52
Core Points - The liquidity agreement between Societe Generale and Rothschild Martin Maurel is highlighted, detailing the number of executed transactions and exchanged volumes from July 1 to December 31, 2024 [1] - As of December 31, 2024, the liquidity account held assets amounting to €5,429,174, with a historical context of changes in asset allocation since the agreement's inception in 2011 [3] Transaction Summary - From July 1 to December 31, 2024, a total of 784 purchase transactions and 881 sale transactions were executed, with a total quantity of shares purchased being 274,319 and sold being 289,019 [2] - The monthly breakdown shows significant trading activity, with notable volumes on specific dates, such as July 5, 2024, with 13,500 shares purchased and 13,500 shares sold [4] - The total number of transactions in December 2024 was 998 purchases and 1,053 sales, with a total quantity of shares purchased being 325,200 and sold being 342,200 [6] Company Overview - Societe Generale is a leading European bank with over 126,000 employees serving approximately 25 million clients across 65 countries, providing a wide range of financial solutions [7] - The bank operates through three main business segments: French Retail, Global Banking and Investor Solutions, and Mobility, International Retail Banking and Financial Services, emphasizing its commitment to sustainability and ESG initiatives [8][9]
Societe Generale: shares and voting rights as of 31 December 2024
Globenewswire· 2025-01-08 16:42
Summary of Key Points Core Viewpoint - The document provides information regarding the total number of shares and voting rights of Societe Generale as of December 31, 2024, indicating a total of 800,316,777 shares and 885,779,955 voting rights [1][2]. Company Overview - Societe Generale is a leading European bank with over 126,000 employees serving approximately 25 million clients across 65 countries, focusing on delivering sustainable value creation for stakeholders [3][4]. - The bank has a strong commitment to environmental transition and sustainability, being included in major socially responsible investment indices such as DJSI, FTSE4Good, and MSCI Low Carbon Leaders Index [4]. Business Segments - The company operates three complementary business segments: 1. French Retail, Private Banking, and Insurance, which includes SG retail bank and BoursoBank [7]. 2. Global Banking and Investor Solutions, recognized for its leadership in equity derivatives and structured finance [7]. 3. Mobility, International Retail Banking, and Financial Services, featuring established universal banks in various regions and a focus on sustainable mobility [7].
Global Engine Group Holding Limited Acquires 22.5% Stake in Corpotech Holdings Limited, a Hong Kong Data Centre Operator
Newsfilter· 2024-12-30 13:00
Company Overview - Global Engine Group Holding Limited (GLE) is an integrated solutions provider in information communication technologies (ICT) based in Hong Kong [1] - The company operates through its wholly owned subsidiary, Global Engine Holdings Limited [1] Acquisition Details - GLE has completed the acquisition of a 22.5% stake in Corpotech Holdings Limited for a total consideration of $2.25 million [1] - Corpotech Holdings owns a 9,627 sq.ft data center located in Tsing Yi, Hong Kong [1] Market Growth Potential - The Hong Kong data center market is projected to grow significantly, with total market capacity expected to increase from 0.95 thousand MW in 2024 to 1.78 thousand MW by 2029 [2] - The market is anticipated to generate colocation revenue of $732.5 million in 2024, reaching $1.37 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.36% during this period [6] Strategic Importance - The acquisition strengthens GLE's position in the expanding data center market and enhances its capacity to deliver comprehensive data managed services [5] - The growing demand for secure data center services is driven by the increasing ties between Hong Kong and mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area [5] - The mainland's push for internationalization in the information sector further boosts demand for data center services [5] Target Customer Groups - GLE's target customers include small to medium-sized telecom operators, ICT service providers, data center and cloud computing services providers, and IoT solutions providers [5]
Societe Generale: shares and voting rights as of 30 November 2024
Globenewswire· 2024-12-16 16:57
Group 1 - The total number of shares composing the current share capital of Societe Generale as of 30 November 2024 is 800,316,777 [6] - The total number of voting rights is reported as 885,941,946 gross as of the same date [6] - Societe Generale operates in various sectors including French Retail, Private Banking, Insurance, Global Banking, and Investor Solutions, with a focus on ESG offerings [7] Group 2 - Societe Generale has a workforce of over 126,000 employees and serves approximately 25 million clients across 65 countries [2] - The company has been in operation for 160 years, providing a wide array of advisory and financial solutions [2] - Societe Generale is committed to sustainability and is included in major socially responsible investment indices [3]