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Societe Generale (SOGN.PA)

SOGN.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Societe Generale had 4.171 pct of Generali on Aug 29, voting rights 0.9 pct
Tuesday, 6 Sep 2016 01:07pm EDT 

Filings of Italian market regulator Consob show: Societe Generale had 4.171 percent of Italy's Generali on August 29 . Of this Societe Generale had 0.9 percent in voting rights, a potential stake of 1.557 percent and long positions equal to 1.71 percent Further company coverage: [GASI.MI] (Reporting by Milan newsroom).  Full Article

SocGen' comments after Q2 results
Wednesday, 3 Aug 2016 03:58am EDT 

Below are comments made by Societe Generale's executives during a conference call with journalists: SocGen CEO says no changes in dividend policy . SocGen CFO says targets CEO 1 ratio of 11.5 to 12 percent by 2018 Further company coverage: [SOGN.PA] ((paris.newsroom@thomsonreuters.com; +33 1 49 49 54 52 ;)).  Full Article

Romania's BRD bank H1 net profit jumps 65 pct y/y
Wednesday, 3 Aug 2016 03:57am EDT 

Romanian lender BRD Groupe Societe Generale : Says records net profit of 382 million lei ($96.22 million) in the first half, up 65 percent from 232 million lei in the same period of last year. . The overall net profit of BRD Group, which includes leasin and asset management, stood at 381 million lei, up 64 percent on the year. . Says its net banking income rose by 13.7 percent in the half to 1.38 billion lei because of higher net interest income and net fees and commissions. . Says its non-performing loan ratio fell to 14.4 percent, from 18.6 percent at the end of June 2015. . Says it set aside general provisions worth 90 million lei to account for a law passed this year that enables borrowers to walk away from their mortgaged properties. . Further company coverage: ROBRD.BX ($1 = 3.9702 lei) (Bucharest newsroom) ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) Keywords: BRD RESULTS/ (BRIEF).  Full Article

EDF said to pick JP Morgan, HSBC,Societe Generale SA and BNP Paribas SA for 4 billion Euro fundraising- Bloomberg
Monday, 27 Jun 2016 08:59am EDT 

: EDF said to pick JP Morgan, HSBC,Societe Generale SA and BNP Paribas SA for 4 billion Euro fundraising- Bloomberg,citing sources Source (http://bloom.bg/298ifyF) (Bengaluru Newsroom) (((+91 80 6749-1130; within U.S. +1 646 223 8780);)).  Full Article

Societe Generale and La Banque Postale announce pooling of payment systemes
Tuesday, 21 Jun 2016 05:55am EDT 

Societe Generale : Societe Generale and La Banque Postale announce pooling of payment systemes in a partnership with Sopra Banking Software . Agreement between Societe Generale and La Banque Postale aims to extend activities of their JV, Transactis Further company coverage: [SOGN.PA] (Gdynia Newsroom:) ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 09 20;)).  Full Article

Societe Generale chief to testify to French senate on Panama Papers - FT
Monday, 11 Apr 2016 09:03am EDT 

Societe Generale:The chief executive of Société Générale is to be hauled in front of the French senate on Tuesday to answer questions about his bank’s role in setting up offshore companies for clients in Panama. - FT.Frédéric Oudéa has been called to appear after the bank was identified in the Panama Papers data leak as the fourth most prolific user of law firm Mossack Fonseca to set up offshore shell companies.It commissioned the creation of 979 such companies for clients.SocGen admitted last week that it had set up accounts for clients via Mossack Fonseca but said that media reports were giving rise to “outrageous misconceptions”.The bank said that it closed operations in Panama as well as Philippines and Brunei because they were on the OECD “grey list”. The offshore companies set up by SocGen were not owned by the bank “but by clients,” it said.The SocGen board reiterated its support for management on Friday and said the bank was “especially vigilant” around the application of rules and safeguards against money laundering and tax evasion.  Full Article

Societe Generale headquarters searched in Panama probe - Reuters News
Sunday, 10 Apr 2016 02:21am EDT 

Societe Generale:French tax police searched Societe Generale's headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday. - RTRS.The searches on April 5 were a "normal development in the context of such an investigation", a spokesman for the bank said, declining to comment further.According to the Journal du Dimanche newspaper, the searches were ordered to try to identify holders of offshore companies set up by the bank via Panamanian law firm Mossack Fonseca.A leak of millions of files from the firm has cast a global spotlight on the creation of more than 200,000 companies in offshore tax havens, implicating scores of politicians and business figures.Societe Generale was identified by Le Monde earlier this week as the fourth most prolific creators of offshore shell companies via Mossack Fonseca, with 979 to its name.Following Le Monde's initial report, part of an international investigation by more than 100 news organisations.Societe Generale accused the daily of using "inconsistent information which gives rise to outrageous misconceptions".  Full Article

Societe Generale - EU cuts SocGen antitrust fine by about half to 227.7 mln euros - Reuters News
Wednesday, 6 Apr 2016 05:04am EDT 

Societe Generale:European Union antitrust regulators have cut Societe Generale's rate rigging fine by 49 percent to 227.72 million euros ($259.24 million) after the French lender recalculated the value of its sales. - RTRS.France's second-largest bank was hit with a fine of 446 million euros in December 2013, one of seven banks charged with rigging the euro interbank offered rate (Euribor) as a cartel."The amended fine is based on the amended value of sales data provided by Societe Generale in February 2016 after the bank realised that it had initially provided incorrect data to the Commission," the European Commission said in a statement.SocGen announced the reduced fine last month but did not provide a figure.  Full Article

Societe Generale to cut 125 investment banking jobs - Reuters News
Sunday, 3 Apr 2016 08:43pm EDT 

Societe Generale:Societe Generale says it plans to cut 125 jobs at the GBIS investment banking division - RTRS.Plans to cut 90 French trading room jobs and 35 posts at Lyxor asset management unit will be put to unions on Monday, bank says.  Full Article

Societe Generale signs share purchase agreement to acquire 100% of Kleinwort Benson
Monday, 14 Mar 2016 08:00pm EDT 

BHF Kleinwort Benson Group SA:Societe Generale signs a share purchase agreement to acquire 100 pct of Kleinwort Benson from the Oddo Group.Societe generale signed a share purchase agreement to acquire 100 pct of Kleinwort Benson and Kleinwort Benson Channel Islands Holdings Limited.Subject to regulatory approvals, Kleinwort Benson will be acquired and eventually combined with Societe Generale Private Banking Hambros.  Full Article

SocGen bets growth, inflation will lift global equities in 2017

LONDON, Nov 29 French investment bank Societe Generale said on Thursday global equity markets are poised for stronger returns in 2017 as a mix of inflation, stronger economic growth and shareholder-friendly policy boosts appetite for stocks.