|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||22.03 - 22.32|
|52 Week Range||20.81 - 38.50|
|Beta (3Y Monthly)||1.68|
|PE Ratio (TTM)||5.58|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||2.20 (10.11%)|
|1y Target Est||43.49|
Rating Action: Moody's assigns a Prime-1 rating to Columbia Funding Company, LLC. Global Credit Research- 21 Jun 2019. New York, June 21, 2019-- Moody's Investors Service has assigned a Prime-1 rating ...
(Bloomberg Opinion) -- Earlier this month, my colleague Elisa Martinuzzi suggested that merging Deutsche Bank AG and UBS Group AG would, on paper at least, create a European banking champion. She concluded, though, that the regulatory obstacles to such a deal would probably be insurmountable. But there is a three-way combination that could create a regional lender with the heft to take on the U.S. banks without falling foul of national regulators.Jean Pierre Mustier has done much house-cleaning in his two years as chief executive officer of Italy's UniCredit SpA. So it’s not much of a stretch to posit that he might regard himself as the right leader to forge a European powerhouse. And while his current institution owns HypoVereinsbank in Germany, it still depends on Italy for almost half of its revenue.Mustier has already dallied with the idea of buying Commerzbank AG after talks between the German lender and Deutsche Bank broke down in April. Adding Commerzbank would increase his access to the small- and medium-sized German clients known as Mittelstand companies.With Deutsche Bank still in intensive care, the German authorities should welcome the opportunity to see its other problem child adopted by UniCredit for many of the same reasons as they championed the mooted domestic tie-up. But to build a true challenger to the growing U.S. dominance of European lending, Mustier would need to add a third geographic region to his stable – and here his nationality might be key to overcoming tribal objections.As a Frenchman running an Italian-German institution, Mustier would be well-placed to convince the authorities in Paris that Societe Generale SA would thrive under his stewardship.Adding SocGen’s expertise in derivatives would expand the range of balance-sheet tools that Mustier can offer to those Mittelstand companies and other customers in Europe. And the newly merged triumvirate – let’s call it UniComSoc, ignoring the Orwellian overtones – would be a true regional champion. In international bond underwriting, the trio would command a 6.3% market share based on the individual performance of the three banks in the first five months of this year. None of the trio is currently a top ten player; the merged group would rank behind only JPMorgan Chase & Co. with 7.2% of the market, and Citigroup Inc. with 6.9%.In European equity offerings, the merged firm would sneak into a top 10 dominated by U.S. and Swiss firms, again based on market share through May:But in European loans, a market worth almost 300 billion euros ($336 billion) so far this year, the combination would be a market-beating powerhouse with a share of almost 13 percent. Given European companies remain reliant on bank loans rather than the capital markets to satisfy the bulk of their funding needs, that’s the most important reservoir of capital and the one that European regulators would be keenest to see being provided by a leading domestic source.The futures market is now starting to anticipate a cut in borrowing costs from a European Central Bank whose ultra-low interest rates have already weighed heavily on bank profitability. The worsening economic outlook that’s seen European government bond yields drop to record lows this week should add a sense of urgency to the acknowledged need for cross-border banking mergers.If the combination of Deutsche Bank and Commerzbank turned out to be shooting for the moon, maybe Mustier should aim even higher to land among the stars.To contact the author of this story: Mark Gilbert at email@example.comTo contact the editor responsible for this story: Edward Evans at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Name of issuer: Société Générale S.A. – French public limited company (“SA”) with a share capital of 1,009,897,173.75.
A gauge of price swings over the next week has climbed the most since early May, as traders anticipate moves on the leadership contest and the Federal Reserve decision next week. Investor positioning has turned increasingly short on sterling over the past month, according to data from the Commodity Futures Trading Commission. The Conservative leadership election is adding yet more uncertainty, with several candidates including Johnson saying they will seek to take the U.K. out of the European Union if a deal cannot be reached by the current deadline of Oct. 31.
The ordinary General Meeting of Societe Generale held on 21 May 2019 set the dividend per share for the 2018 financial year at EUR 2.20 and resolved to grant each shareholder the possibility to opt for the payment of the dividend in shares.
Fed funds futures show a quarter-point cut almost fully priced in for July, and indicate about 70 basis points of easing by the end of 2019. The two-year Treasury yield fell as much as 11 basis points to 1.77%, close to the 2019 low reached Wednesday, and it was on course for its fifth weekly decline. The last time that happened was back in July 2016, when the U.S. central bank’s target range was 2 percentage points lower than right now.
The American Petroleum Institute’s weekly report was said to show a 3.55 million barrel increase in U.S. stockpiles last week, compared with a 2 million decline predicted by analysts in a Bloomberg survey. The data hit a market already reeling from escalating trade tensions between the U.S. and China, and the Trump administration’s threat to slap tariffs on Mexico.
(Bloomberg) -- Treasuries tumbled, pushing yields up from multiyear lows, after Federal Reserve Chairman Jerome Powell opened the door to possible interest-rate cuts while stopping short of signaling any kind of imminent move.
Societe Generale SA's corporate and investment banking unit said on Monday it had appointed Patrick Perreault as head of mergers and acquisitions at its corporate finance division in France. Perreault, ...
China will set up a mechanism listing foreign enterprises, organizations and individuals that don’t obey market rules, violate contracts and block, cut off supply for non-commercial reasons or severely damage the legitimate interests of Chinese companies, Ministry of Commerce spokesman Gao Feng said. The U.S. government has moved to curb Huawei’s ability to sell equipment in the U.S. and buy parts from American suppliers, potentially crippling one of China’s most successful -- but controversial -- global companies.
Moody's Investors Service ("Moody's") today upgraded the baseline credit assessment (BCA) of PJSC ROSBANK (Rosbank) to ba2 from ba3, adjusted BCA to baa3 from ba1, deposit ratings to Baa3/Prime-3 from Ba1/Not-Prime, counterparty risk ratings (CRRs) to Baa2/Prime-2 from Baa3/Prime-3 as well as senior unsecured rating and senior unsecured credit facility to Baa3 from Ba1. Concurrently, Moody's has upgraded its the Counterparty Risk Assessment (CR Assessment) to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr).
ANNUAL GENERAL MEETING AND BOARD OF DIRECTORS DATED 21ST MAY 2019 FRÉDÉRIC OUDÉA, CHIEF EXECUTIVE OFFICER, RENEWED AS A DIRECTOR WITH AN APPROVAL RATE OF 96.22% Regulated.
Shareholders of French bank Societe Generale voted to give Chief Executive Frederic Oudea another four-year term as board member after he renewed his commitment to lift up the bank's profitability and solvency. About 96% of shareholders present during the bank's annual shareholders meeting voted in favour of Oudea, who has been at the helm of the bank since 2008. During the meeting, Oudea reiterated his priority is to lift the bank's return on tangible equity between 9% and 10% in 2020.
Free translation for information purposes only Public Limited CompanyShare Capital of EUR 1,009,897,173.75Company Registered Office: 29, boulevard Haussmann, 75009 Paris552.
This description is drawn up in accordance with the provisions of Articles 241-1 and 241-2 I of the General Regulation of the French Financial Markets Authority (Autorité des marchés financiers). The authorisation for the Company to buy its own shares will be proposed to the ordinary General Meeting dated 21 May 2019.
(Reuters) - Paris-based Societe Generale said on Thursday it has received banking authorisation from Australia's financial regulator, years after winding down operations in the country. Societe Generale, ...