PARIS — Société Générale’s return on tangible equity (ROTE) reached 12.3% in the first nine months of 2026, above its roughly 11% target for the year, while third-quarter group net income rose 24.1% to €1.888 billion.
Revenue for the quarter ended Sept. 30 increased 7.8% to €7.173 billion. Analysts’ median estimates listed in Société Générale’s published consensus were €1.651 billion for group net income and €6.818 billion for net banking income. The consensus covered 12 estimates collected Oct. 1-8, and the bank cautioned that they might not reflect later market information.
Global Banking and Investor Solutions revenue grew 12.5% to €2.777 billion. Equity revenue set a quarterly record of €1.202 billion, up 45.9%, while Fixed Income and Currencies revenue dropped 20.6% to €474 million amid lower rates activity. French Retail, Private Banking and Insurance brought in €2.531 billion, a 10.9% increase, as net interest income rose 12.7%.
Third-quarter operating expenses were €4.093 billion, up 0.8%. The cost-to-income ratio was 57.1%, compared with 61% a year earlier. Credit costs totaled €408 million, or 28 basis points, within the bank’s 2026 guidance of 25 to 30 basis points. The bank said Global Banking and Investor Solutions costs rose by €123 million, mainly because of higher variable compensation following strong revenue; lower transformation and disposal-related costs partly offset the increase.
For the first nine months, revenue rose 4.1% to €21.375 billion, operating expenses fell 3.2% to €12.577 billion and group net income increased 17.3% to €5.374 billion. ROTE was up from 10.5% in the same period of 2025.
Société Générale reported a 13.4% Common Equity Tier 1 (CET1) ratio at Sept. 30 and said it completed its €1.5 billion extraordinary share buyback that day. Its regulatory disclosure sets the European Central Bank’s CET1 minimum for the bank at 10.41% from Jan. 1, 2027; EconoTimes’ earlier coverage of the capital requirement reported the notice. The financial information is unaudited. The bank’s financial calendar schedules its fourth-quarter and full-year 2026 results for Feb. 4, 2027.
