PRESS RELEASE
Paris, 1 st December 2016 Disclosure of new regulatory capital requirements as from 1 st January 2017
The European Central Bank confirmed the level of additional requirement in respect of Pillar 2 (P2R or "Pillar 2 Requirement") for Societe Generale, which will come into force as from 1st January 2017. This level has been set at 1.50%.
Taking into account the combined regulatory buffers (excluding the counter-cyclical buffer), the phased-in CET1 ratio level that would trigger the Maximum Distributable Amount mechanism in 2017 would be 7.75%, down -200bp vs. 2016, and subsequently gradually increase, all other things being equal, to 9.50% as from 1st January 2019.
The regulatory CET1 phased-in ratio, amounting to 11.6% at end-September 2016, gives the Group comfortable room for manoeuvre to meet these new requirements.
Press Contact: Pascal Henisse - +33 (0)1 57 29 54 08 - pascal.henisse@socgen.com
Societe Generale
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, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 145,000 employees, based in 66 countries, we accompany 31 million clients throughout the world on a daily basis. Societe Generale's teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of omnichannel financial services on the leading edge of digital innovation;
- International retail banking, insurance and financial services to corporates with a presence in developing economies and leading specialised businesses;
- Corporate and investment banking, private banking, asset management and securities services , with recognised expertise, top international rankings and integrated solutions.
Societe Generale is included in the main socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 4 of the STOXX ESG Leaders indices.
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