Societe Generale Posts Profit, Revenue Increase in 3Q

By Michael Hennessey and Tracy Qu

Societe Generale reported third-quarter net profit that beat market expectations despite a volatile macroeconomic backdrop in its home country.

The lender on Thursday reported net profit of 1.89 billion euros, equivalent to $2.11 billion, for the three-month period, up 24% from a year earlier on higher income and lower costs.

Net banking income--its top-line metric--rose 7.8% to 7.17 billion euros, it said.

The increase was partially driven by higher net interest income--the difference between what banks earn on loans and pay out on client deposits--at its French retail banking unit. Net interest income rose 12.7% during the quarter, according to the release.

Revenue from French retail banking, private banking and insurance rose 11% from a year earlier.

Revenue at the global banking and investor solutions segment rose 12.5% during the quarter.

Revenue from the mobility and international retail banking operations segment dropped 4%.

Analysts had expected Societe Generale to post net profit of 1.62 billion euros on revenue of 6.82 billion euros, according to consensus estimates compiled by the company.

For 2026, the bank expects revenue growth of more than 2% and a decline in costs of around 4%. Return on tangible equity--a key profitability metric--is forecast at around 11%, up from 10.2% in 2025, while the bank targets a cost-to-income ratio--an efficiency measure--below 60%, Societe Generale said.

Write to Michael Hennessey at michael.hennessey@wsj.com and Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

October 29, 2026 02:31 ET (06:31 GMT)