Societe Generale SA

GLE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Societe Generale Earnings: Leadership Changes and Strong Results Boost Share Price

Johann Scholtz , Svetlana Menshchikova

Oct 31, 2024

No-moat Societe Generale reported solid results, marking a rebound after several disappointing quarters, which was positively received by investors as shares surged nearly 9% following the European market's opening on Oct. 31, 2024. Alongside its earnings, SocGen announced management changes, with Leopoldo Alvear appointed CFO beginning in January 2025, new heads of French retail, and Philippe Aymerich stepping down as deputy CEO. We view these changes as positive steps, showing SocGen's commitment for necessary changes to secure the bank's future. We maintain our fair value estimate at EUR 29.3 per share.

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Societe Generale SA

Societe Generale Earnings: Leadership Changes and Strong Results Boost Share Price

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