Societe Generale SA
GLE: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€32.20 | Hwc | Wqvw |
Societe Generale Earnings: Regulated Interest Rates Hit Revenue
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.