Societe Generale SA

GLE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€81.40	Bkvg	Kqhlq

Societe Generale Earnings: Regulated Interest Rates Hit Revenue

Johann Scholtz

May 15, 2023

In contrast to most of its European peers, Societe Generale reported lower revenue for the first quarter of 2023 compared with the same period a year earlier. Revenue declined 5% year on year due to net interest margin compression. Lower operating expenses and loan-loss provisions negated the decline in revenue, leading to a 6% year-on-year increase in operating profit.

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