Societe Generale: Disclosure of regulatory capital requirements as from 1st March 2022
February 03 2022 - 1:27AM
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_
jean-baptiste.froville@socgen.comFanny
Rouby_+33 1 57 29 11 12_
fanny.rouby@socgen.com
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).
In case of doubt regarding the authenticity of this press
release, please go to the end of Societe Generale’s newsroom page
where official Press Releases sent by Societe Generale can be
certified using blockchain technology. A link will allow you to
check the document’s legitimacy directly on the web page.
For more information, you can follow us on Twitter
@societegenerale or visit our website www.societegenerale.com.
- Societe Generale_ SREP Notification-03-02-2022
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