Société Générale ended 2013 with a Net income almost tripled (+175%) compared to the year, to 2,18 billion, also improving the financial ratios in the fourth quarter. The net bank turnover instead it fell by 1,2%, to 22,8 billion euro. This was communicated by the French banking giant, specifying that shareholders will be offered a dividend of one euro per share in cash, more than double the 0,45 euro of 2012.
Having achieved its solvency targets in 2013, the Bank increased its solvency ratios again at the end of the year, well above the Basel III requirements.
“We have achieved the structural transformation of the balance sheet and it translates into very solid capital ratios and liquidity. The group is in a position to seize all growth opportunities in 2014,” said Frederic Oudea, president and chief executive officer of the company.
The institute's strategic plan will be presented on 13 May. Among the objectives is a Roe by 10% by the end of 2015 (in 2013 it reached 8,4%).
In fourth quarter In 2013, Société Générale recorded a profit of 322 million, well above expectations, against a loss of 471 million in the same period of 2012. The result was achieved despite the 446 million fine imposed by the European Commission for manipulating the interbank rate Euribor.
