Investment Rating - The industry view for European banks has been raised to Attractive from In-Line [8][30][31] Core Insights - With risks to European growth receding, there is increased confidence that yield steepening will hold and net interest income (NII) growth will resume in 2026 [1][2][32] - The report estimates a 10% compound annual growth rate (CAGR) for earnings per share (EPS) from 2024 to 2027, which is not currently reflected in the 9x price-to-earnings (P/E) ratio [1][3][30] - The sector is expected to experience a trough in NII in the second half of 2025, followed by a 3-4% growth starting in 2026, with potential upside if loan growth accelerates [3][6][30] Summary by Sections Economic Outlook - Post US-China de-escalation, risks to European growth have diminished, leading to a maintained assumption of 1.5% ECB rates, with expectations of 25-50 basis points higher steepening than previously estimated [2][14][32] Earnings and Valuation - The report indicates that the sector is trading at the lower end of the historical P/E range of 8-13x, despite improved cost efficiency, lower credit risk, and less leverage compared to pre-global financial crisis (GFC) levels [4][30] - The average price targets imply an 18% upside for Euro Area and UK banks, compared to a mere 3% upside for the wider market [5][30] Strategic Recommendations - The report highlights a preference for longer duration/high deposit beta names, with upgrades for AIB and BOI to Equal-weight, and ABN also upgraded to Equal-weight [6][31][37] - Top picks include Commerzbank, Lloyds, Santander, and Soc Gen, reflecting a strategic focus on banks with better growth prospects [6][9][31]

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Group 1 - UBS downgraded Société Générale to neutral [1]

Group 1 - As of 30 April 2025, the total number of shares composing the current share capital is 800,316,777 and the total number of voting rights is 888,385,614 [2][6] - Societe Generale is a leading European bank with approximately 119,000 employees serving over 26 million clients in 62 countries [3][4] - The company is committed to sustainability and is included in major socially responsible investment indices such as DJSI, FTSE4Good, and MSCI Low Carbon Leaders Index [4] Group 2 - Societe Generale operates three complementary business segments: French Retail, Global Banking and Investor Solutions, and Mobility, International Retail Banking and Financial Services [7] - The bank offers a wide range of financial solutions, including advisory services and tailored-made solutions in equity derivatives and structured finance [4][7] - The company emphasizes its ESG capabilities and aims to be a leading partner in environmental transition and sustainability [4]

AVAILABILITY OF THE FIRST AMENDMENT TO 2025 UNIVERSAL REGISTRATION DOCUMENT Regulated Information Paris, 30 April 2025 Societe Generale hereby informs the public that the first amendment to the 2025 Universal Registration Document filed on 12th March 2025 under number D.25-0088, has been filed with the French Financial Markets Authority (AMF) on 30th April 2025 under number D-25-0088-A01. This document is made available to the public, free of charge, in accordance with the conditions provided for by the reg ...

Group 1 - The core viewpoint of the article highlights that Société Générale reported a significant increase in net profit for the first quarter, reaching €1.61 billion compared to €680 million in the same period last year, exceeding the forecast of €1.22 billion [1] - The bank's stock trading revenue for the first quarter was €1.06 billion, representing a year-on-year growth of 22%, surpassing the expected €920 million [1]

Investors with an interest in Banks - Foreign stocks have likely encountered both Societe Generale Group (SCGLY) and Erste Group Bank AG (EBKDY) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies ...

Core Viewpoint - The stablecoin market is rapidly evolving, with Tether planning to issue a stablecoin pegged to offshore RMB (CNHT), highlighting the competitive landscape and the increasing interest from traditional financial institutions in this sector [1][2]. Group 1: Market Dynamics - Tether earned $10 billion in the stablecoin market last year, and the total market capitalization of stablecoins is approaching $200 billion, with projections to exceed $400 billion by 2025 [2]. - The market exhibits oligopolistic characteristics, with the top two stablecoins (USDT and USDC) accounting for over 90% of the market share, and over 95% for USD-pegged stablecoins [2]. - The stablecoin's primary advantage lies in its efficiency and low-cost payment model, particularly beneficial for cross-border transactions [1]. Group 2: Institutional Involvement - Traditional financial institutions are increasingly entering the stablecoin market, with banks like Société Générale, Oddo BHF, and Revolut exploring opportunities [2]. - Visa launched a tokenized network for banks to issue stablecoins and plans to pilot a project with BBVA in 2025, indicating strong interest from banks in regions like Hong Kong, Singapore, and Brazil [2]. - Standard Chartered has been selected as one of the first issuers of a Hong Kong dollar stablecoin, with plans to launch in 2025 [2]. Group 3: Applications and Future Outlook - The application of stablecoins has expanded beyond crypto asset trading to include cross-border payments and decentralized finance (DeFi), making them ideal for international payments and asset reserves [3]. - The rise of digitalization and artificial intelligence is expected to challenge the value foundation of fiat currencies, with stablecoins potentially becoming significant value supports for traditional currencies [5].

One stock that might be an intriguing choice for investors right now is Societe Generale Group (SCGLY) . This is because this security in the Banks - Foreign space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Ban ...

Core Points - William Connelly has been selected as the future Chairman of the Board of Directors for Societe Generale, effective from the General Meeting on 27 May 2026, succeeding Lorenzo Bini Smaghi [1][2] - The selection process was conducted by the Nomination and Corporate Governance Committee with the help of an independent consultant, concluding in late 2023 [2] - Connelly has been a member of Societe Generale's Board since 2017 and has chaired the Risk Committee since 2019 [2][4] - Lorenzo Bini Smaghi emphasized that Connelly's appointment reflects Societe Generale's commitment to high governance standards and continuity in leadership [3] Company Overview - Societe Generale is a leading European bank with approximately 119,000 employees serving over 26 million clients across 62 countries [7] - The bank has a diverse range of services including French Retail, Private Banking and Insurance, Global Banking and Investor Solutions, and Mobility, International Retail Banking and Financial Services [8][9] - Societe Generale is committed to sustainability and is included in major socially responsible investment indices such as DJSI, FTSE4Good, and MSCI Low Carbon Leaders Index [9] Leadership Background - William Connelly has extensive experience in the financial services sector, having held various executive roles at Chase Manhattan Bank, Baring Brothers, and ING Group NV [5] - He is currently the Chairman of the Board of Directors of Amadeus IT Group and Aegon, and has served as an independent director for Singular Bank [4][5] - Connelly holds a degree in Economics from Georgetown University and is a French citizen [6]