For the current quarter period, the group’s operating income summed up to EUR1bn, with a decrease of 21% from EUR1.3bn during the same period in 2011.
The group’s net banking income stood at EUR6.3bn in the quarter period ended 31 March 2012, compared to EUR6.6bn year-over- year quarter.
The French Networks revenues stood at EUR2bn in the current quarter, excluding PEL/CEL effect, which underlines the quality of the French Networks’ commercial activity, said the firm.
Corporate and Investment Banking’s core activities reported 13.8% decline in their revenues to EUR1.9bn during the latest quarter, mainly due to disposal costs for financing assets.
International Retail Banking’s net banking income stood at EUR1.2bn during the three months ended 31 March of current fiscal, which is 3% higher than the first quarter of 2011.
Societe Generale chairman and CEO Frédéric Oudéa said the firm continued to strengthen the Group’s capital base, particularly its equity, with a substantially increased Core Tier 1 ratio in Q1.
"We maintain the priority given to rigorous risk management, controlling operating expenses, reducing our liquidity needs and strengthening our capital," Oudéa said.
"The results for Q1 12 and the prospects for the next two years provide further evidence of our ability to meet the Basel 3 requirements by end-2013 without a capital increase."
