Monthly report - July/August 2011
>> Results for Q2 2011
Publication of Q2 results: resilient results and increased capital. Frédéric Oudéa, the Group's Chairman and CEO, stated: "The Q2 results testify to the Group's resilience in an uncertain economic and financial environment."
>> EBA stress test results
Societe Generale is confident in its ability to continue to increase its equity capital organically while proactively reducing its legacy assets portfolio, and thus confirms it is in a position to achieve a Core Tier One ratio greater than or equal to 9% in 2013 under Basel 3 regulations, without a capital increase.
>> Financial markets crisis
Societe Generale vigorously and categorically denied the completely unfounded market rumours, particularly with regards to losses in its market activities, which affected the Group’s share price.
Find out more about decisions taken by French regulators.
Read the press releases issued by the AMF (French financial regulator)
Read the press release issued by the Banque de France
Read the press release issued by the FBF (French Banking Federation)
Read Frédéric Oudéa’s interviews in the press (no link - extracts below)
In the Figaro dated 11 august 2011, Frédéric Oudéa, Société Générale’s CEO responds to rumours that have hit Société Générale share price and reiterates the strength of the bank’s business model.
In an interview entitled "Nervous until November" which appeared in the French Sunday paper Journal du Dimanche on 21 August, Frédéric Oudéa explained that "the bank doesn't have any problems with liquidity, its activities are in good health and its investment capacities remain intact."
- GROUP LIFE
>> Frédéric Oudéa, Chairman of the FBF
The Executive Committee of the French Banking Federation (FBF) has appointed a new Chairman for a one year period starting on 1 September 2011.
>> Global employee share ownership plan 2011
Result of the 24th capital increase reserved for employees.
- OUR BUSINESSES
>> Euromoney Awards 2011: Societe Generale receives three awards
Euromoney awards outstanding institutions in finance. Societe Generale picked up awards in three categories.
>> Japan Primary Dealership Status obtained (no link)
A significant step in the development plans of Societe Generale Corporate and Investment Banking (SG CIB) to become a truly world class fixed income platform. Obtaining Japanese Government Bonds (JGB) primary dealership will enable SG CIB to play a more active role in the issuance and distribution of Japanese government debt.
- OUR COMMITMENTS
>> Evian Masters 2011:
For the fourth year running, Societe Generale is the Presenting Sponsor of the Evian Masters ladies golf tournament, which is one of the most prestigious events on the ladies tour. Initiatives organised by the Group for the players and spectators during the tournament helped raise 22,720 euros for the Handigolf association for disabled golfers.
- HUMAN RESSOURCES
>> Push my career
The first edition of Push My Career, Societe Generale’s innovative recruitment concept, provided a lot of young graduate jobseekers with help in their first recruitment.