Societe Generale announced a planned share buyback of €1.5 billion on Aug. 3 at the earliest, following a strong second‑quarter performance.
The French bank posted a net profit of 1.79 billion euros, surpassing the consensus estimate of 1.59 billion euros and the same‑period figure of 1.45 billion euros last year. Revenue climbed 4.5% to 7.10 billion euros, beating analysts’ forecast of 6.98 billion euros.
“Our operational efficiency improved with both an increase in our revenues and a sharp drop in our costs, generating a strong positive jaws effect in the quarter,” said Chief Executive Officer Slawomir Krupa in the release.
For 2026, printemps the bank raised its outlook, targeting a 4% reduction in costs relative to 2025 and a return on tangible equity (ROTE) of around 11%.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing