SOCIETE GENERALE HAS SUCCESSFULLY PASSED THE COMPREHENSIVE ASSESSMENT OF EUROPEAN BANK BALANCE SHEETS
CONFIRMATION OF THE GROUP'S FINANCIAL SOLIDITY - Seite 2
Results of the stress tests: financial solidity including under an adverse scenario, ratios well above the requirements set for this exercise
The stress tests were constructed using very severe assumptions both from the macroeconomic viewpoint and the financial market environment, and a very strict methodology over a three-year horizon. The results of these scenarios applied to Societe Generale highlight the solidity of the Group's capital ratios in the face of extreme situations. According to the assumptions adopted in the central scenario, Societe Generale's Common Equity Tier 1 ratio(1) would be 10.6%, compared with the 8.0% target set by the ECB. In the adverse scenario, the Common Equity Tier 1 ratio(1) would stand at 8.1%, well above the minimum of 5.5% defined by the ECB for the exercise.
Commenting on the results, Frédéric Oudéa, the Chairman and CEO, stated: "These results provide further confirmation of the resilience of Societe Generale's business model. They also demonstrate the financial solidity and quality of the risk management of the Group, which embarked on a far-reaching transformation of its balance sheet for several years. This is an unprecedented exercise in transparency, which lays the foundations for the new single supervisory mechanism in Europe and will help increase confidence in the sector. I would like to thank all the teams that have been involved within the bank to ensure the success of this in-depth review".
Societe Generale will provide more detailed comments on the results of the comprehensive assessment of bank balance sheets on 6th November 2014 when it publishes its third quarter results.
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Additional information is available on http://www.societegenerale.com/en/investors
All the results of the comprehensive assessment of banks' balance sheets are available on the European Central Bank and European Banking Authority websites.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Société Générale via Globenewswire