PARIS — Société Générale said Thursday that third-quarter group net income rose 24.1% to €1.888 billion, as revenue growth outpaced operating-cost increases and lifted its quarterly return on tangible equity to 13%.
Net banking income increased 7.8% to €7.173 billion. Operating expenses rose 0.8%, while the cost-to-income ratio fell to 57.1% from 61% a year earlier. The cost of risk was 28 basis points, within the bank’s 2026 guidance range of 25 to 30 basis points.
Results differed across business lines. French Retail, Private Banking and Insurance reported net income of €682 million, up 55.4%. Global Banking and Investor Solutions reported €899 million, a 22.4% increase, while Mobility, International Retail Banking & Financial Services recorded €349 million, down 11.1%.
Global Banking and Investor Solutions revenue rose 12.5% to €2.777 billion. Equity revenue climbed 45.9% to €1.202 billion, while Fixed Income and Currencies revenue declined 20.6% to €474 million amid lower rates activity. French Retail, Private Banking and Insurance revenue increased 10.9% to €2.531 billion, with net interest income up 12.7%.
The bank said Global Banking and Investor Solutions costs increased by €123 million, mainly because stronger revenue led to higher variable compensation. Lower transformation and disposal-related costs partly offset the increase.
For the first nine months, group net income rose 17.3% to €5.374 billion, revenue increased 4.1% to €21.375 billion and operating expenses fell 3.2% to €12.577 billion. Return on tangible equity was 12.3%, up from 10.5% a year earlier and above the bank’s approximate 11% target for 2026, as EconoTimes previously reported on the nine-month results.
Société Générale’s financial calendar lists its fourth-quarter and full-year 2026 results for Feb. 4, 2027.
