Investor Presentaiton
CORPORATE CENTRE
Revenues
Q1 23 revenues notably impacted by:
. the unwinding of the hedges on TLTRO
(~EUR -0.1bn in Q1 and ~EUR -0.3bn in FY)
the implementation of IFRS 17 (~EUR -70m
both on revenues and costs for the same
amount)
In EUR m
Net banking income
Operating expenses
EUR -182m (2) transformation charges in Q1 23
Q1 23
Q1 22
(225)
47
Operating expenses
(242)
(178)
Underlying operating expenses
(1)
(23)
3
Gross operating income
(467)
(131)
Underlying gross operating income
Net cost of risk
(1)
(248)
50
3
5
Net profits or losses from other assets
Income tax
(21)
113
19
Reported Group net income
Underlying Group net income
(399)
(158)
(1)
(225)
(37)
(1) Underlying data: adjusted for exceptional items and IFRIC 21 linearisation (see Supplement), (2) Q1 23 transformation charges: French Retail Banking (EUR 140m), Global Banking and Investor Solutions (EUR 11m) and Corporate Center (EUR 31m)
NB: 2022 figures have been restated, in compliance with IFRS 17 and IFRS 9 for insurance entities
SOCIETE
GENERALE
1ST QUARTER 2023 RESULTS | 12 MAY 2023
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