Societe Generale: Disclosure of regulatory capital requirements as from 1st March 2022

    Societe Generale: Disclosure of regulatory capital requirements as from 1st March 2022 

DISCLOSURE OF REGULATORY CAPITAL REQUIREMENTS AS FROM 1st MARCH 2022Press releaseParis, 3 February 2022

The European Central Bank notified the level of requirement in respect of P2R (Pillar 2 Requirement) for Societe Generale, which will apply from 1 March 2022. This level stands at 2.12%, including the additional requirement regarding pillar 2 prudential expectations on calendar provisioning regarding non-performing loans granted before 26 April 2019.

Considering the combined regulatory buffers, the minimum requirements applicable to Societe Generale on a consolidated basis are respectively 9.23% for the CET1 ratio, 11,13% for the Tier 1 ratio and 13,66% for the Total Capital ratio as of 1 March 2022.

With a CET1 ratio at 13.4% (1) as of 30 September 2021, the Group benefits from a comfortable pro-forma buffer of around 420 basis points above the threshold for triggering distribution limitations.

(1)    Including IFRS 9 phasing. Based on CRR2/CRD5 rules, including the Danish compromise for insurance. Press contacts:Jean-Baptiste Froville_+33 1 58 98 68 00_ [e-mail] Rouby_+33 1 57 29 11 12_ [e-mail]

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.

Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:

• French Retail Banking which encompasses the Societe Generale, Credit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;

• International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
• Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.

Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

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For more information, you can follow us on Twitter @societegenerale or visit our website www.societegenerale.com.

 

Attachment

• Societe Generale_ SREP Notification-03-02-2022