|Bid||0.00 x 150000|
|Ask||23.08 x 139000|
|Day's Range||22.32 - 22.32|
|52 Week Range||22.32 - 22.32|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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EURCV will be offered to institutional clients as a means of bridging the gap between traditional capital markets and digital assets.
Societe Generale SA and BNP Paribas SA on Thursday won the dismissal of a lawsuit in New York accusing them of trafficking in assets that Fidel Castro's government seized in 1960 from the former owners of a Cuban bank. It was brought by 12 heirs, mostly children and grandchildren, of Carlos and Pura Nuñez, who had owned Banco Nuñez before and during the Cuban Revolution. SocGen and Paribas were accused of evading U.S. sanctions by doing business with Cuba's central bank after it nationalized and absorbed Banco Nuñez and other lenders, resulting in more than $1 billion of profit for the French banks since 2000.
Societe Generale pulled out of Texas-based energy company NextDecade's Rio Grande Liquefied Natural Gas (LNG) project last year, the French bank disclosed for the first time on Tuesday, in news that could help explain the project's repeated delays. Without commenting on this specific decision, a SocGen spokesperson pointed to its climate commitments, which include ending all LNG financing where the project is not aligned with the bank's human rights and environmental, social and governance goals. As the project's mandated financial adviser, SocGen had been the lead bank in the financing of some $11.5 billion for the LNG plant before exiting this role in the first quarter of 2022.
By Geoffrey Smith
(Reuters) -At least four major banks, including Societe Generale SA and Deutsche Bank AG, are restricting new trades involving Credit Suisse Group AG or its securities, according to five sources with direct knowledge of the matter, as the Swiss bank struggles to restore confidence. Credit Suisse declined to comment. The cautious stance adopted by Credit Suisse’s rivals, details of which have not been reported before, comes after the Swiss central bank threw a lifeline to the lender after its shares were pummelled in the aftermath of the U.S. banking crisis this week.
Societe Generale SA agreed to pay $157 million to settle a lawsuit accusing the French bank and several other banks of contributing to imprisoned Ponzi schemer Allen Stanford's estimated $7.2 billion fraud. Money would go to a court-appointed receiver who is repaying victims of Stanford's fraud, which was uncovered in Feb. 2009, two months after the arrest of Bernard Madoff. Societe Generale denied wrongdoing, and settled to avoid the burden, "very substantial expense" and risk of litigation, settlement papers show.
The U.S. Securities and Exchange Commission (SEC) sought information from SocGen's U.S. unit related to "compliance with record-keeping requirements in connection with business-related communications on messaging platforms that were not approved by the firm," the lender said in its report. The SEC in 2021 began probing into how Wall Street banks were keeping track of employees' digital communications, Reuters reported at the time, and later the Commodity Futures Trading Commission (CFTC) was also scrutinizing the issue, bank disclosures showed.
Societe Generale, France's third biggest bank, favoured financial prudence over quick returns to shareholders as it prepared for the arrival of a new CEO in May tasked with reviving its valuation in an uncertain economic climate. SocGen said on Wednesday it hiked provisions for bad loans fivefold in the fourth quarter, cutting its net income over the period by 35% from a year earlier. SocGen's strong revenue from bond and currency trading, corporate financing and car leasing activities helped it beat market expectations in the fourth quarter, with a net income of 1.16 billion euros ($1.24 billion).
SCGLY, AEO and ENVA made it to the Zacks Rank #1 (Strong Buy) value stocks list on February 7, 2023.
The European Central Bank's top supervisor Andrea Enria appeared to call time on a season of large share buybacks by banks on Thursday as the economy weakens. Banks including UniCredit and Societe Generale have been reporting bumper profits and announcing dividends and share buybacks, boosted by a sharp increase in interest rates and a trading boom after more than a decade of mostly meagre returns. "Banks have been able to distribute big, until recently we had quite a number of hefty share buybacks," Andrea Enria told an event at the Dutch central bank.
Societe Generale's crypto division SG Forge has won registration from France's Autorité des Marchés Financiers (AMF) for cryptocurrency custody and trading services.
PARIS (Reuters) -France's third biggest bank, Societe Generale, said on Friday investment banking boss Slawomir Krupa had been chosen by the board to become its next chief executive, succeeding veteran banker Frederic Oudea who is due to step down next year. The bank said in a statement the board had chosen Krupa unanimously at the end of a selection process which included internal and external candidates. "He has perfect knowledge of our bank, as well as the challenges that await him; he has demonstrated his ability to lead Societe Generale, a major European bank," the bank's chairman, Lorenzo Bini Smaghi, said in the statement.
PARIS (Reuters) -Societe Generale, which is seeking a new chief executive, said on Friday two senior female executives would be stepping down before the end of the year. France's third-biggest listed bank said Chief Risk Officer Sadia Ricke would leave on Nov. 30 and Caroline Guillaumin, the head of human resources and communication, would quit on Dec. 15. Ricke, a SocGen veteran, will become group chief risk officer of Asia and Africa-focused bank Standard Chartered, the London-based bank said in a separate statement.
Societe Generale is offering new services for asset managers that want to offer crypto funds to their clients.
Barclays (NYSE: BCS) is a nearly $1.9 trillion asset bank based in the U.K. that also operates an international consumer banking business including in the U.S. Over the last decade, Barclays has not performed well, generating a return on equity that has typically been less than 4% -- which is pitiful, especially for a bank with so much scale. Barclays has also been making good progress in its cards and payments business, which is starting to pay off as well. Additionally, the Bank of England has raised interest rates to the highest level seen in 27 years to bring down surging inflation.
Societe Generale Group (SCGLY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Half Year 2022 Societe Generale SA Earnings Interview with CEO
PARIS (Reuters) -A buoyant second quarter and new three-year targets helped to boost Societe Generale's shares on Wednesday, as the French bank weathered a 3.3-billion-euro ($3.4 billion) hit from the sale of its Russia business. France's third-biggest listed bank, which is seeking a new chief executive, reported a 1.48-billion-euro loss, while analysts on average had expected a loss of more than 2 billion. The better-than-expected result, helped by robust retail and investment banking activity, lifted SocGen's shares 4.2% in early trading, the strongest performance in the pan-European banking index.