Societe Generale group has summed up its results 2008

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Societe Generale group has summed up its results 2008

In a challenging environment the Group’s businesses produced solid commercial performances:

In EUR mln	2008	2007	08/07
Net banking income (NBI)	21,866	21,923	-0,3%
Operating expenses	(15,528)	(14,305)	+8,5%
Gross operating income (GOI)	6,338	7,618	-16,8%
Net income	2,010	0,947	ő2,1
Return on equity (ROE) after tax	6,4%	3,6%

Societe Generale posted a Group net income of EUR 2.0 billion for 2008, a demonstration of the robustness of our business mix under challenging market conditions.
The French Networks achieved satisfactory commercial performances in a mature market, with a 2.2% NBI increase.
The Financial Services have been adversely impacted by the economic downturn, but still generated satisfactory results in 2008 (EUR 469 mln net income).
Within the Global Investment Management and Services, performances were mixed. Private Banking, Securities Services, Brokers and Online Savings all achieved satisfactory performances, while Asset Management activities continued to be negatively impacted by the market volatility.
The Corporate and Investment Banking division demonstrated the robustness of their customer franchise while fixed income, currencies and commodities activities posted their second best year in terms of revenues. Trading revenues remained positive over the year despite a very strong downturn in Q4 08.
The International Retail Banking network posted a EUR 608 mln net income for the year. This business line has extended considerable its activity, although the Group has started adapting its growth pace in line with the new market situation.