The private banking sector saw €2.4 billion in net inflows during the quarter, driving total assets under management to a record €145 billion by the end of June. This represents a 10 percent expansion compared to the same period last year. Across the entire group, revenue climbed 2.4 percent to €14.2 billion for the first half of the year, bolstered by a 5 percent reduction in operating costs that exceeded management’s internal targets.
Societe Generale Private Banking Profits Jump 18 Percent
Societe Generale’s private banking division posted a robust €363 million in net income for the second quarter of 2026, marking an 18 percent year-on-year increase. This growth reflects a broader trend of rising performance across the French lender's business units as the group pivots toward higher profitability targets.
Chief executive Slawomir Krupa confirmed an upward revision of the 2026 return on tangible equity target to approximately 11 percent. To reward shareholders, the bank plans to launch a €1.5 billion share buy-back program starting August 3, alongside an interim dividend of 0.751 cents per share. With a Common Equity Tier 1 ratio of 13.2 percent, the institution maintains a capital buffer well above regulatory requirements, providing stability as the bank’s shares continue their 9.5 percent rise for the year.
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