Revenues for fixed income, currencies, and commodities came in at €494 million for the quarter.
Societe Generale, a French multinational investment bank, announced its third quarter results for its 2018 fiscal year today. During the period, the firm reported solid results overall, driven in part by a rebound in the global financial markets.
During the third quarter, Societe Generale achieved a revenue of €6.5 billion. This is an increase of 9 percent year-on-year. However, when excluding revenues earnt from the revaluation of Euroclear securities, revenue was up 4.4 percent.
According to the results, revenue was driven by strong growth in the company’ French retail banking business and international retail banking and financial services operations. In addition, revenues were also supported by the global banking and investor solutions unit, which reported solid results thanks to a rebound in the global markets.
Operating expenses were also up in the third quarter, coming in at €4.4 billion. This is an increase of 5.2 percent when compared to the third quarter of 2017. Net income for the group also jumped by 16.1 percent year-on-year to reach €1.25 billion.
Fixed Income, Currencies, and Commodities Revenues Stable in Q3
Taking a look at Global Markets & Investor Services sector, net banking income came in at €1.3 billion in the third quarter. This is an increase of 7.9 percent from the same quarter of 2017 due to the rebound in Equity activities and solid performance of rates and commodities.
Revenues for fixed income, currencies and commodities were stable during the quarter at €494 million. An increase in client demand during Q3 was offset by low Liquidity in the European Credit market during the summer. Overall, for the nine months ended September 30, 2018 revenue for the sector was €1.61 billion, this is down 13.4 percent when compared to the same period in 2017.
For Equities and prime services, revenues were up by 19 percent when compared to Q3 of 2017, reaching €593 million. This was largely due to a good performance in the United States and structured products.
Commenting on the results, Fréderic Oudéa, the Group’s Chief Executive Officer, said: “Societe Generale published solid results in Q3 18, with a good level of profitability. Our revenues increased due to the confirmed growth in International Retail Banking & Financial Services and the healthy momentum in Financing & Advisory and market activities."
“The Group pursued its disciplined approach to cost management and the low cost of risk confirms the quality of our loan portfolio. The Group put an end this quarter to the financial impact of the major litigation issues with the US authorities relating to the pre-financial crisis period."
“Finally, the Group continued to optimise its portfolio of activities, with the announcement of the disposal of its Polish subsidiary. On the back of these various developments and its recognition as one of the most socially responsible banks in Europe, the Group is determinedly and confidently pursuing the implementation of its strategic plan”.
Societe Generale, a French multinational investment bank, announced its third quarter results for its 2018 fiscal year today. During the period, the firm reported solid results overall, driven in part by a rebound in the global financial markets.
During the third quarter, Societe Generale achieved a revenue of €6.5 billion. This is an increase of 9 percent year-on-year. However, when excluding revenues earnt from the revaluation of Euroclear securities, revenue was up 4.4 percent.
According to the results, revenue was driven by strong growth in the company’ French retail banking business and international retail banking and financial services operations. In addition, revenues were also supported by the global banking and investor solutions unit, which reported solid results thanks to a rebound in the global markets.
Operating expenses were also up in the third quarter, coming in at €4.4 billion. This is an increase of 5.2 percent when compared to the third quarter of 2017. Net income for the group also jumped by 16.1 percent year-on-year to reach €1.25 billion.
Fixed Income, Currencies, and Commodities Revenues Stable in Q3
Taking a look at Global Markets & Investor Services sector, net banking income came in at €1.3 billion in the third quarter. This is an increase of 7.9 percent from the same quarter of 2017 due to the rebound in Equity activities and solid performance of rates and commodities.
Revenues for fixed income, currencies and commodities were stable during the quarter at €494 million. An increase in client demand during Q3 was offset by low Liquidity in the European Credit market during the summer. Overall, for the nine months ended September 30, 2018 revenue for the sector was €1.61 billion, this is down 13.4 percent when compared to the same period in 2017.
For Equities and prime services, revenues were up by 19 percent when compared to Q3 of 2017, reaching €593 million. This was largely due to a good performance in the United States and structured products.
Commenting on the results, Fréderic Oudéa, the Group’s Chief Executive Officer, said: “Societe Generale published solid results in Q3 18, with a good level of profitability. Our revenues increased due to the confirmed growth in International Retail Banking & Financial Services and the healthy momentum in Financing & Advisory and market activities."
“The Group pursued its disciplined approach to cost management and the low cost of risk confirms the quality of our loan portfolio. The Group put an end this quarter to the financial impact of the major litigation issues with the US authorities relating to the pre-financial crisis period."
“Finally, the Group continued to optimise its portfolio of activities, with the announcement of the disposal of its Polish subsidiary. On the back of these various developments and its recognition as one of the most socially responsible banks in Europe, the Group is determinedly and confidently pursuing the implementation of its strategic plan”.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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