Société Générale
Note: This is a daily stock update and the information stands true as of 31/07/25, 09:00 CET.
Company Update:
Expert Opinion:
A strong print by SocGen and the increased guidance is obviously good news. The momentum remains quite strong. Capital generation is quite strong, and we expect the share buy back program to continue. The strategy of M.Krupa is paying off and our expert expects that consensus will upgrade its numbers. SocGen's P/BV (0.56x in 25 and 0.49x in 2026) is still substantially below that of BNP (0.65x and 0.62x) and he expects a catch-up. Still our top pick in European banks.
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Company Update:
SG posted strong Q2 results with revenues up 1.6% to €6.8bn, better than expected.
Costs were much better than expected and Q2 net income rose 31% to €1.45bn, a 22% beat vs consensus (€119).
The group will pay a 61 cts interim dividend and announced a €1bn share buy-back in August which is great news.
Guidance 2025: SG now targets an ROTE of 9% vs above 8% previously. And expects its cost income ratio to be below 65% vs below 66% previously.
Expert Opinion:
A strong print by SocGen and the increased guidance is obviously good news. The momentum remains quite strong. Capital generation is quite strong, and we expect the share buy back program to continue. The strategy of M.Krupa is paying off and our expert expects that consensus will upgrade its numbers. SocGen's P/BV (0.56x in 25 and 0.49x in 2026) is still substantially below that of BNP (0.65x and 0.62x) and he expects a catch-up. Still our top pick in European banks.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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