Société Générale (GLE) AGM 2026 summary

Opening remarks and agenda

• The meeting marked the 11th and final AGM chaired by Lorenzo Bini Smaghi, highlighting a decade of governance through multiple crises and a successful leadership transition.

• The agenda included updates on financial results, strategy, CSR and climate change, governance, remuneration, and voting on resolutions.

• A record quorum of 64.93% was achieved, with over 30,000 shareholders represented.

• Shareholder interests focused on strategy, results, financial strength, dividend policy, executive remuneration, risk management, and digital transformation.

Financial performance review

• 2025 saw revenues up nearly 7% (excluding disposals), net interest income growth, and record assets under management.

• BoursoBank gained 1.9 million new clients, nearing 9 million total; Global Banking and Investor Solutions exceeded €10 billion in revenues.

• Costs fell by 2% versus 2024, with a cost-to-income ratio of 63.6%, and ROTE reached 10.2%, surpassing targets.

• CET1 ratio improved to 13.5% after Basel IV, with €2 billion in share buybacks; 2026 targets include revenue growth above 2% and further cost reductions.

• Q1 2026 net income was €1.7 billion, up 5.5% year-on-year, with a cost-to-income ratio of 60.9% and ROTE at 11.7%.

Board and executive committee updates

• Slawomir Krupa was reappointed as CEO, with a focus on stability and preparation for the 2026 strategic plan.

• William Connelly was nominated as the next Chairman, and Clara Furse as Chair of the Risk Committee.

• The Board met 11 times in 2025, with a 65% attendance rate, and enhanced its expertise in technology, risk, and retail banking.