2nd Quarter and 1st Half 2022 Results
FRENCH RETAIL BANKING RESULTS
Revenues
+5.9%(2) vs. Q2 21
Net interest margin and other +5.0% (²) vs. Q2 21
driven notably by good commercial activity despite
negative effect of the TLA (3) and still negative rates
Fees +7.1% vs. Q2 21
strong growth in service fees
Operating expenses
+5.5% (1) vs. Q2 21
mainly due to client acquisition, contribution to the SRF (4)
and variable costs
Positive jaws
In EURm
Net banking income
Q2 22
Q2 21
Change
H1 22
H121
Change
2,256
2,080
+8.5%
4,444
4,103
+8.3%
Net banking income excl. PEL/CEL
2,185
2,063
+5.9%
4,350
4,098
+6.1%
Operating expenses
(1,513)
(1,447)
+4.6%
(3,233)
(3,058)
+5.7%
Underlying operating expenses
(1)
(1,571)
(1,489)
+5.5%
(3,120)
(2,972)
+5.0%
Gross operating income
743
633
+17.4%
1,211
1,045
+15.9%
Underlying gross operating income
(1)
614
574
+7.0%
1,230
1,126
+9.2%
Net cost of risk
(21)
x2,6
(68)
(137)
-50.4%
Operating income
722
625
+15.5%
1,143
908
+25.9%
Net profits or losses from other assets
3
1
x 3,0
3
4
-25.0%
Reported Group net income
Underlying Group net income (1)
539
454
+18.7%
852
666
+27.9%
444
412
+7.6%
866
724
+19.5%
RONE
17.5%
15.0%
14.1%
11.0%
Underlying RONE
(1)
14.4%
13.6%
14.4%
11.9%
Q2 22 RONE 14.4% (1) (18.3% (1) excl. Boursorama)
(1) Underlying data: adjusted for exceptional items, excluding PEL/CEL provision and IFRIC 21 linearisation (see Supplement)
(2) Excluding PEL/CEL provision (3) rate of the "Livret A" (4) Single Resolution Fund
NB: including Private Banking activities as per Q1 22 restatement (France and International), includes other businesses transferred following the disposal of Lyxor
SOCIETE
GENERALE
2ND QUARTER AND 1ST HALF 2022 RESULTS |3 AUGUST 2022 14View entire presentation