Societe Generale Group, Mobiasbanca Show Rising Results in 1H
OREANDA-NEWS. August 14, 2013. In the second quarter of 2013, the Societe Generale Group recorded rising results thanks to a good performance both from a financial and a commercial perspective.
The businesses achieved solid performance thanks to growing revenues while keeping costs and risk under control. As anticipated, the non economic and non recurring items are diminishing. The Group net underlying result stands at EUR 1,958m in the first half of the year, which is a solid level. The Group has reached an underlying ROE of 10% during the second quarter. Net banking income totaled EUR 11,321 million and Group net income EUR 1,319 million in H1 2013.
As part of the Societe Generale Group, Mobiasbanca shows a positive, growing trend. The bank has registered, at the end of the first half of 2013, a growth of the Net Banking Income, clients’ acquisition, outstanding of loans, control of Net Cost of Risk. During this period, Mobiasbanca has also shown its engagement to offer high quality products and services in order to increase clients’ satisfaction, a fact confirmed by the ISO 9001:2008 certification, obtained by the bank in June. With a stable growth and strong goals, Mobiasbanca is in line with SG Group strategy and ambitions.
Commenting on the Group’s H1 2013 results, Frederic Oudea – Chairman and CEO – stated: “The Societe Generale Group’s businesses produced a good performance in H1 2013. This was underpinned by the quality of the franchises and the fundamental work carried out over several years in order to adapt them to a new economic and regulatory environment. We are going to continue our efforts. Supported by a very solid balance sheet and the commitment of its teams, the Group aims to be among the leading European banks and is confident of its ability to generate a ROE of 10% as from end-2015.”
Ridha Tekaia, president of Mobiasbanca – Groupe Societe Generale, stated: „I am glad to announce that Mobiasbanca, as part of the group, is in line with its positive trend and performances. These results are a reward for the work of the Mobiasbanca team and the efforts we all made during the last few years. We are improving day after day, offering new, better products and quality services, acting as a transparent, safe and solid bank, in order to be among leading banks in Moldova.”
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognized on its markets, close to customers, chosen for the quality and commitment of its teams. More than 154,000 employees, based in 76 countries, accompany 32 million customers throughout the world on a daily basis. Mobiasbanca became a subsidiary of Groupe Societe Generale in 2007, serving today over 87,000 active clients in corporate, SME and retail sectors through a network of 47 branches .