Société Générale Sponsored ADR (SCGLY)
Societe Generale Is Now A Deep Value Play
Societe Generale trades at a significant discount to its European peers due to weak fundamentals and poor earnings momentum, but recent trends show improvement. The bank's net interest income has risen sharply, driven by higher loan origination rates and the termination of unfavorable swaps, boosting overall revenue. Cost control measures have improved SocGen's efficiency, but higher provisions due to weak macroeconomic conditions have impacted earnings.
Société Générale Société anonyme (SCGLY) Q2 2024 Earnings Call Transcript
Société Générale Société anonyme (OTCPK:SCGLY) Q2 2024 Results Conference Call August 1, 2024 4:30 AM ET Company Participants Slawomir Krupa - Chief Executive Officer Claire Dumas - Chief Financial Officer Stephane Landon - Chief Risk Officer Philippe Aymerich - Deputy Chief Executive Officer Conference Call Participants Azzurra Guelfi - Citi Tarik El Mejjad - Bank of America Flora Bocahut - Barclays Guillaume Tiberghien - BNP Paribas Delphine Lee - JPMorgan Giulia Miotto - Morgan Stanley Chris Hallam - Goldman Sachs Pierre Chedeville - CIC Anke Reingen - RBC Slawomir Krupa Good morning, everyone. Thank you for joining the conference call today.
