Societe Generale: Key highlights from Morgan Stanley conference, March 17th 2020
March 17 2020 - 3:01AM
Societe Generale: Key highlights from Morgan Stanley conference,
March 17th 2020
PRESS RELEASE
Paris, March 17th, 2020
Key highlights from Morgan Stanley conference, March
17th 2020
On the occasion of the Morgan Stanley
conference, Frédéric Oudéa will today present his analysis of the
measures announced by the French Government, Central Banks and
supervisors to deal with the economic impacts of the coronavirus
health crisis. He will also review the Societe Generale Group's
main sector and geographic exposures.
On the basis of the SSM announcements of March
12th, Societe Generale Group's Minimum Distributable Amount
("MDA"), which stood at 10.03% at January 1st, 2020, should
decrease by 105bp, of which 77bp following the early implementation
of Article 104A of the CRD5 regulation, and 28bp with a
countercyclical buffer reduced to zero. With a CET1 ratio of 12.7%
at end-December 2019 (12.8% pro forma), the Group would thus have a
buffer of around 370bp above the MDA compared to more than 200bp at
the end of December 2019.
Furthermore, to date, there are no operational
or financial elements that would justify a specific communication
from Societe Generale Group regarding Q1 20 results.
Finally, the notice of a Annual General Meeting,
scheduled for May 19th, 2020 will be published on Wednesday March
18th. It includes all the resolutions and in particular the one
proposing a dividend of €2.20 per share for the year 2019.
Press contacts:Antoine Lhéritier +33 (0)1 42 13
68 99 antoine.lheritier@socgen.com Corentin Henry +33 (0)1 58 98 01
75 corentin.henry@socgen.com
Societe Generale
Societe Generale is one of the leading European financial
services groups. Based on a diversified and integrated banking
model, the Group combines financial strength and proven expertise
in innovation with a strategy of sustainable growth, aiming to be
the trusted partner for its clients, committed to the positive
transformations of society and the economy.
Active in the real economy for over 150 years, with a solid
position in Europe and connected to the rest of the world, Societe
Generale has over 147,000 members of staff in 67 countries and
supports on a daily basis 31 million individual clients, businesses
and institutional investors around the world by offering a wide
range of advisory services and tailored financial solutions. The
Group is built on three complementary core businesses:
- French Retail Banking which encompasses the
Societe Generale, Crédit du Nord and Boursorama brands. Each offers
a full range of financial services with omnichannel products at the
cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial
Services to Corporates, with networks in Africa, Russia,
Central and Eastern Europe and specialised businesses that are
leaders in their markets;
- Global Banking and Investor Solutions, which
offers recognised expertise, key international locations and
integrated solutions.
Societe Generale is included in the principal socially
responsible investment indices: DJSI (World and Europe), FTSE4Good
(Global and Europe), Euronext Vigeo (World, Europe and Eurozone),
four of the STOXX ESG Leaders indices, and the MSCI Low Carbon
Leaders Index. For more information, you can follow us on Twitter
@societegenerale or visit our website
www.societegenerale.com
- PR Key highlights from Morgan Stanley conference
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