Societe Generale: Disclosure of regulatory capital requirements effective from 1st January 2025
11 Dezembro 2024 - 2:04PM
UK Regulatory
Societe Generale: Disclosure of regulatory capital requirements
effective from 1st January 2025
DISCLOSURE OF REGULATORY CAPITAL REQUIREMENTS
EFFECTIVE FROM
1st
JANUARY
2025
Press release
Paris, 11 December 2024
The European Central Bank notified Societe
Generale of the level of its Pillar 2 Requirement (P2R), which will
apply from 1st January 2025. It stands at 2.40%,
including 1.42% in the form of CET1. This level includes the
additional requirement of 0.15% (vs. 0.17% previously) regarding
Pillar 2 prudential expectations on calendar provisioning
relating to non-performing loans granted before 26th
April 2019.
Considering the combined regulatory buffers, the
minimum requirements from 1st January 2025 applicable to
Societe Generale on a consolidated basis will remain stable at
10.22% for the CET1 ratio (including 0.80% on Countercyclical
buffers compared to 0.79% at the end of September 2024), 12.14% for
the Tier 1 ratio and 14.71% for the Total Capital ratio.
The European Central Bank also notified Societe
Generale of a Leverage Ratio P2R (LR-P2R) requirement, which
remains unchanged at a level of 0.1%. Consequently, the minimum
leverage ratio requirement remains at 3.6%.
With a CET1 ratio at 13.2%1 as of
30th September 2024, the Group benefits from a
comfortable pro-forma buffer of around 300 basis points above
regulatory requirements. Similarly, the Group's leverage ratio
stood at 4.25% as of 30th September 2024, well above the
requirement of 3.6%.
Press contact:
Jean-Baptiste Froville_+33 1 58 98 68 00_
jean-baptiste.froville@socgen.com
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com
Societe Generale
Societe Generale is a top tier European Bank with more than
126,000 employees serving about 25 million clients in 65 countries
across the world. We have been supporting the development of our
economies for 160 years, providing our corporate, institutional,
and individual clients with a wide array of value-added advisory
and financial solutions. Our long-lasting and trusted relationships
with the clients, our cutting-edge expertise, our unique
innovation, our ESG capabilities and leading franchises are part of
our DNA and serve our most essential objective - to deliver
sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding
ESG offerings for all its clients:
- French Retail, Private Banking
and Insurance, with leading retail bank SG and insurance
franchise, premium private banking services, and the leading
digital bank BoursoBank.
- Global Banking and Investor
Solutions, a top tier wholesale bank offering
tailored-made solutions with distinctive global leadership in
equity derivatives, structured finance and ESG.
- Mobility, International Retail
Banking and Financial Services, comprising
well-established universal banks (in Czech Republic, Romania and
several African countries), Ayvens (the new ALD I LeasePlan brand),
a global player in sustainable mobility, as well as specialized
financing activities.
Committed to building together with its clients a better and
sustainable future, Societe Generale aims to be a leading partner
in the environmental transition and sustainability overall. The
Group is included in the principal socially responsible investment
indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg
Gender-Equality Index, Refinitiv Diversity and Inclusion Index,
Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders
indexes, and the MSCI Low Carbon Leaders Index (World and
Europe).
In case of doubt regarding the authenticity of this press
release, please go to the end of the Group News page on
societegenerale.com website where official Press Releases sent by
Societe Generale can be certified using blockchain technology. A
link will allow you to check the document’s legitimacy directly on
the web page.
For more information, you can follow us on Twitter/X
@societegenerale or visit our website societegenerale.com.
1 Including IFRS 9 phasing, pro-forma
including Q3 24 results. Based on CRR2/CRD5 rules, including the
Danish compromise for insurance. Based on a pay-out ratio of 50% of
the group net income, at the high-end of the 40%-50% payout ratio,
as per regulation, restated from non-cash items and after deduction
of interest on deeply subordinated notes and undated subordinated
notes.
- 20241211-Notification-SREP-EN
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