Societe Generale's CEO Says Strong Capital Ratio Should Assuage Investors Fears

The transcript discusses the decision not to cut dividends due to strong capital generation and sustainability beyond 2020. It covers the performance of investment banks, noting a decline in fixed income and equities revenues, but highlights restructuring efforts and job cuts to meet financial targets. The impact of the current interest rate environment on French banks is also analyzed, with a focus on retail activities and margin sustainability.

What is the company's stance on cutting dividends beyond 2020?

• They will increase dividends.

• They are unsure about dividend cuts.

• They see no reason to cut dividends.

• They plan to cut dividends significantly.

How did the investment bank's fixed income and equities revenues perform?

• Both increased by 10%.

• Fixed income increased, equities decreased.

• Equities increased, fixed income decreased.

• Both decreased, with fixed income down 10% and equities down 7%.

What percentage of the restructuring target has been achieved by 2020?

• 35%

• 20%

• 50%

• 75%

What is the impact of the current interest rate environment on French banks?

• It leads to a significant increase in revenues.

• It only affects the credit margin.

• It impacts retail activities, particularly deposit margins.

• It has no impact on French banks.

What percentage of associational revenues is expected to be impacted by the current environment?

• 50%

• 10%

• 30%

• 90%