SOCIETE GENERALE: QUARTERLY FINANCIAL INFORMATION, Q3-2013

          SOCIETE GENERALE: QUARTERLY FINANCIAL INFORMATION, Q3-2013

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QUARTERLY FINANCIAL INFORMATION
Paris, November 7th 2013

Q3 2013: SOLID GROUP PERFORMANCE

  *Core Tier 1 ratio (Basel 3): 9.9% 

  *NBI: EUR 5.7bn (+14.3%* vs. Q3 12)

Business revenues up +3.8%* vs. Q3 12, evenly-balanced contribution from the
three pillars 

  *Significant progress in the cost-cutting plan: EUR 260m of savings secured
    for one-off transformation costs of EUR -170m

  *Cost of risk^(1) stable at 69 basis points 

  *Book Group net income: EUR 534m, a sixfold increase vs. Q3 12
    Group net income**: EUR 976m (+14.3% vs. Q3 12)

ROE**: 8.5% in Q3 13

  *Exclusive negotiations initiated for the purchase of Newedge, continued
    refocusing of the businesses

9M 13:     GROUP NET INCOME**OF EUR 2,934m (+4.3% vs. 9M 12),
        BUSINESSES' GROSS OPERATING INCOME UP +10.5%* vs. 9M 12

  *Book Group net income: EUR 1.9bn (EUR 1.3bn in 9M 12) 

  *Stable cost to income ratio** vs. 9M 12

  *ROE**: 8.6% in 9M 13

EPS^(2): EUR 2.12

*     When adjusted for changes in Group structure and at constant
exchange rates

**    Excluding non-economic items (revaluation of own financial
liabilities), legacy assets, and non-recurring items. See methodology note No.
8.

Items relating to the results for 2012 have been restated due to the
implementation of the revised IAS 19: the change in accounting method involves
the adjustment of data for the previous year.

(1)    Excluding litigation issues, legacy assets in respect of assets at
the beginning of the period. Cost of risk: 67bp in Q2 13and 71bp in Q3 12.

(2)  After deducting interest, net of tax effect, to be paid to holders of
deeply subordinated notes and undated subordinated notes for 9M 13
(respectively EUR 190 million and EUR 43 million). At end-September 2013, the
capital gain net of tax and accrued unpaid interest relating to buybacks of
deeply subordinated notes was nil. See methodology note No. 3.

The Board  of Directors  of Societe  Generale met  on November  6th, 2013  and 
examined the Group's  financial statements for  Q3 and the  first 9 months  of 
2013.

Q3 net banking income and Group net income amounted to respectively EUR  5,728 
million (+14.3%* vs.
Q3 12) and EUR 534 million (a sixfold increase vs. Q3 12).

When  restated  for  non-economic   items,  non-recurring  items  and   legacy 
assets^(1), net banking income and  Group net income amounted to  respectively 
EUR 5,898 million and EUR 976 million in Q3, generating a ROE of 8.5%**.

For the first 9  months of the  year, net banking  income totalled EUR  17,049 
million (stable* vs. the previous year) and Group net income EUR 1,853 million
(vs. EUR  1,261 million  in  9M 12).  When  restated for  non-economic  items, 
non-recurring items and legacy  assets^(1), net banking  income and Group  net 
income amounted to respectively EUR 18,274 million and EUR 2,934 million.

The  Group  has  continued  with   its  transformation,  rolling  out  a   new 
organisational set-up focused on its  three pillars of excellence: the  French 
Networks, whose  structure is  unchanged;  International Banking  &  Financial 
Services(IBFS), which encompasses the activities of the International  Retail 
Banking and  Specialised  Financial  Services &  Insurance  divisions;  Global 
Banking & Investor Solutions (GBIS), incorporating the activities of Corporate
& Investment Banking and the  Private Banking, Global Investment Management  & 
Services division. They  benefit from an  evenly-balanced capital  allocation, 
which is  reflected in  their respective  contribution to  earnings. This  new 
organisational set-up will strengthen the  revenue and cost synergies  between 
the businesses, with the more  effective integration of the customer  services 
offering and simplified internal operating methods.
At the same time, Societe Generale  has proactively pursued the refocusing  of 
its  business  portfolio  and  the  optimisation  of  allocated  capital,   by 
refinining its model. Accordingly, the Group has consolidated its positions in
Russia through the planned purchase of VTB's share in Rosbank. Private Banking
activities in Japan have been sold. Finally, Societe Generale has entered into
exclusive negotiations to  acquire 100%  of Newedge.  This will  enable it  to 
broaden its services offering from the execution of transactions to post-trade
(clearing operations and associated services),  and intensify its presence  in 
the Americas and Asia regions.

The businesses  have demonstrated  their ability  to adapt,  with revenues  up 
+3.8%* vs. Q3 12. This constitutes  a good performance given the  environment. 
The French Networks posted solid revenues (+2.0% excluding PEL/CEL  provisions 
vs. Q3 12),  underpinned by dynamic  deposit inflow, against  the backdrop  of 
weak credit demand. IBFS net banking  income grew +2.7%* overall, with  record 
revenues in  Specialised  Financial  Services &  Insurance.  Within  the  GBIS 
pillar, net banking income rose +7.2%*, with comparable growth* in Corporate &
Investment Banking and in the Private Banking, Global Investment Management  & 
Services division.

Operating expenses were  down -0.9%  vs. Q3 12.  All in  all, the  businesses' 
gross operating income  improved by +0.6%*  in Q3 13  vs. Q3 12.  At the  same 
time, the cost savings  plan announced at  the beginning of  the year has  now 
helped secure EUR 260 million of  recurring savings by 2015 (cumulative  total 
at end-September 2013),  for cumulative  one-off transformation  costs of  EUR 
-170 million at end-September 2013.

The commercial cost  of risk, measured  in basis points^(2)  was stable at  69 
basis points in Q3 13 (67 basis  points in Q213), whereas the coverage  ratio 
increased to 79% (+1 point).
The Group's fully loaded "Basel 3" Core Tier 1 ratio stood at 9.9%^(1) at  the 
end of the quarter,  a significant increase  of +51 basis  points, due to  the 
earnings contribution and the ongoing reduction in the legacy asset portfolio.
Under"Basel 2.5", it amounted to 11.6%^(2).

Commenting on the Group's results for  Q3 2013, Frédéric Oudéa - Chairman  and 
CEO - stated:

"With underlying Group net income of  EUR 976 million in Q3 and  approximately 
EUR 3 billion  in the  first 9  months of  2013, and  a ROE  of 8.6%,  Societe 
Generale's businesses have once again demonstrated their ability to adapt to a
rapidly changing  environment. The  Group is  supported by  a solid  financial 
structure that now meets all the  Basel 3 regulatory requirements. The  second 
phase of transformation is under way. It will enable us to deliver medium-term
growth and profitability, with a ROE target of 10% by end-2015. The Group will
continue to reinforce and optimise its Universal Banking model centred  around 
the  customer.  The  implementation  of  a  new,  refocused  and   simplified, 
organisational  set-up   will  help   improve   the  Group's   efficiency   by 
strengthening the synergies between the businesses."

                        1 - GROUP consolidated results

CONSOLIDATED French Networks International  Global Banking  Corporate       Group
INCOME                           Banking and    and Investor      Centre
STATEMENT                         Financial       Solutions
(in EUR                           Services
millions)
               Q3 13  Change   Q3 13  Change  Q3 13  Change Q3 13 Change  Q3 13  Change
                      Q3 vs.           Q3 vs.          Q3 vs.        Q3 vs.          Q3 vs.
                      Q3               Q3              Q3            Q3              Q3
Net banking   2,036  +2.0%(1)  1,972  +2.7%*   2,155  +7.2%*  (435) +53.0%*  5,728  +14.3%*
income
Operating    (1,293)          (1,096) +3.6%*  (1,502) +9.9%*  (48)  -28.4%* (3,939) +5.1%*
expenses
Gross          743   +0.8%(1)   876   +1.6%*    653   +1.5%*  (483) +51.3%*  1,789  +41.6%*
operating
income
Net cost of   (263)            (412)  -1.5%*   (231)  +19.1%* (188) x 94,0* (1,094) +31.9%*
risk
Operating      480   -7.6%(1)   464   +4.5%*    422   -6.1%*  (671) +32.5%*   695   +60.2%*
income
Group net      308              289   -0.1%*    366   +2.6%*  (429) +5.5%*    534   -1.5%*
income
* When adjusted for changes in Group
structure and at constant exchange rates
(1)
Excluding
PEL/CEL

CONSOLIDATED French Networks International  Global Banking   Corporate     Group
INCOME                           Banking and    and Investor       Centre
STATEMENT                         Financial       Solutions
(in EUR                           Services
millions)
               9M 13  Change   9M 13  Change  9M 13  Change  9M 13  Change  9M 13   Change
                      9M vs.           9M vs.          9M vs.          9M vs.           9M vs.
                      9M               9M              9M              9M               9M
Net banking   6,120  +1.2%(1)  5,962  +1.7%*   6,705  +12.5%* (1,738)   NM*    17,049  -0.3%*
income
Operating    (3,901)          (3,357) +1.4%*  (4,506) +3.0%*   (150)  +0.7%*  (11,914) +1.7%*
expenses
Gross         2,219  +2.5%(1)  2,605  +2.0%*   2,199  +38.4%* (1,888) -95.0%*  5,135   -4.7%*
operating
income
Net cost of   (838)           (1,272) -1.5%*   (487)  +10.9%*  (410)  x 51,2* (3,007)  +27.0%*
risk
Operating     1,381  -9.8%(1)  1,333  +5.8%*   1,712  +48.9%* (2,298)   NM*    2,128   -29.8%*
income
Group net      883              816   +63.0%*  1,391  +44.8%* (1,237)   NM*    1,853   -8.4%*
income
Group ROTE                                                                      6.1%
(after tax)
Tier 1 ratio                                                                   13.5%
at end of
period
* When adjusted for changes
in Group structure and at
constant exchange rates
(1)
Excluding
PEL/CEL

2012 comparative tables in detailed sections and in Appendix 1 (statistical
data)

Net banking income

The Group's net banking  income totalled EUR  5,728 million in  Q3 13 and  EUR 
17,049 million for the first 9 months of the year.

If non-economic items, non-recurring items and legacy assets are stripped out,
revenues amounted to EUR5,898** million and EUR18,274** million in 9M 13.

The businesses' contribution to revenues was  higher for all activities in  Q3 
13 and vs. Q3 12: +3.8%*, with  each of the three pillars contributing  around 
one-third of the total:

  *The French Networks continued to grow,  with revenues up +1.3%* and  +2.0% 
    excluding PEL/CEL  provisions vs.  Q3 12,  underpinned by  strong  deposit 
    inflow in an environment characterised by weak credit demand. 

  *In International Banking & Financial Services (IBFS), revenues were  2.7%* 
    higher than in        Q3  12. International Retail Banking  provided 
    further evidence  of the  resilience of  its business  model (net  banking 
    income up +1.4%* overall), while the environment remained unfavourable  in 
    Eastern Europe.  At  the  same  time,  Specialised  Financial  Services  & 
    Insurance revenues reached a record  level (up +4.4%*), driven by  dynamic 
    Insurance activity (+12.0%*). 

  *In Global  Banking  & Investor  Solutions  (GBIS), which  encompasses  the 
    activities of  Corporate &  Investment Banking  and the  Private  Banking, 
    Global Investment Management & Services division, revenues were up +7.2%*.
    There was an equivalent* increase for the two divisions, Private  Banking, 
    Global Investment  Management  &  Services  (+7.4%*  vs.  Q3  12,  with  a 
    significant rise in Private Banking  revenues) and Corporate &  Investment 
    Banking (+7.1%*),  despite continuing  low  interest rates,  the  emerging 
    market crisis and weak volumes during the summer. 

The businesses' revenues were up +4.8%* in 9M 13 vs. 9M 12.

The accounting  impact  of  the  revaluation  of  the  Group's  own  financial 
liabilities was EUR -223 million in
Q3 13, taking the total  impact of this revaluation  on net banking income  to 
EUR -1,215 million in 9M 13. It represents the bulk of the Corporate  Centre's 
net banking  income. In  2012, this  revaluation  had an  impact of  EUR  -594 
million in Q3 and EUR -569 million for the first 9 months of the year.

Operating expenses

The Group has continued  with its efforts to  control operating expenses:  the 
cost savings plan announced at the beginning of the year has helped secure EUR
-260 million of recurring savings by 2015, for one-off transformation costs of
EUR -170 million at end-September 2013.

Operating expenses totalled EUR -3,939 million in Q3 13 (EUR -3,976 million in
Q3 12).  At  end-September, cumulative  operating  expenses showed  a  limited 
increase of +1.7%* vs. the  same period in 2012. If  the cost savings plan  is 
stripped out, operating expenses were stable* in 9M 13 vs. 9M 12^(1), and down
-4.4% in absolute terms.

When restated for non-economic and non-recurring items and the revaluation  of 
own financial  liabilities, the  Group's cost  to income  ratio was  generally 
stable at 64.9%** in 9M 13 vs. 64.5%** in 9M 12.

Operating income

The Group's gross operating  income came to  EUR 1,789 million  in Q3 13  (EUR 
1,421 million in Q3  12, +41.6%*). Gross operating  income totalled EUR  5,135 
million in 9M 13 (vs.  EUR 5,693 million in 2012,  down -4.7%*). In line  with 
the businesses' revenue growth and  the efforts to control operating  expenses 
highlighted previously, the gross operating  income of the Group's  businesses 
amounted to EUR 7,023 million in 9M 13, an increase of +10.5%* vs. 9M 12.

The Group's net cost of risk amounted to EUR -740 million for Q3 13, excluding
collective provisions  for  litigation  issues and  legacy  assets  (EUR  -883 
million in Q3 12). In total, the Group's net cost of risk was
EUR -1,094 million in Q3 13 vs. EUR -897 million in Q3 12.

The Group  posted an  additional collective  provision for  litigation  issues 
amounting to
EUR -200 million in Q3 13, taking the total for the first 9 months of the year
to  EUR  -400  million.  At  end-September  2013,  collective  provisions  for 
litigation issues totalled EUR 700 million.

The Group's commercial cost  of risk (expressed as  a fraction of  outstanding 
loans) was stable at 69^(2)basis  points in Q3 13  (67^(2) basis points in  Q3 
12), in a still challenging economic environment.

  *The French Networks' cost  of risk generally remained  stable at 57  basis 
    points (vs. 58  basis points  in Q2  13). The  Group increased  collective 
    provisions for business customers.

  *At 151 basis points (vs. 150 basis points in Q2 13), International Retail
    Banking's cost of  risk was also  stable, with mixed  trends according  to 
    region: return to a  normal situation in the  Czech Republic, increase  in 
    Russia and Romania. It declined in theMediterranean Basin.

  *Specialised Financial  Services'  cost of  risk  remained low  (119  basis 
    points
    vs.  115  basis  points  in   Q2  13),  despite  a  challenging   economic 
    environment.

  *The cost  of risk  of  Corporate &  Investment Banking's  core  activities 
    remained low at
    19 basis points (vs. 22 basis points in Q2 13), confirming the quality  of 
    the loan portfolio. Legacy assets' net  cost of risk amounted to EUR  -154 
    million in Q3 13. 

The Group's NPL coverage ratio was 79% at end-September 2013, up +1 point  vs. 
end-June 2013 and September 2012.

The Group's operating  income came to  EUR 695 million  in Q3 13  vs. EUR  524 
million in Q3 12 and
EUR 2,128 million in 9M  13 vs. EUR 3,072 million  in 9M 12. These  variations 
can be attributed primarily  to the impact of  the revaluation of the  Group's 
own financial liabilities, with a favourable  relative impact in Q3 13 vs.  Q3 
12 and unfavourable relative impact in the first 9 months.

Net income

Group net income totalled EUR534 million for Q3 13 (EUR 90 million in Q3 12),
after taking into account tax (the Group's effective tax rate was 13.2% in  Q3 
13  -  insignificant  in  Q3  12)  and  the  contribution  of  non-controlling 
interests.

When  corrected  for  non-economic  items,  non-recurring  items  and   legacy 
assets^(1^), Group net income totalled  EUR 976 million in  Q3 13 vs. EUR  854 
million in Q3 12 (+14.3%).

Group net  income amounted  to EUR  1,853 million  for 9M  13 (vs.  EUR  1,261 
million in 9M 12), with an effective  tax rate of 20.1% at end-September  2013 
(and 24.1% in 2012). When  corrected for non-economic and non-recurring  items 
as well as the  effect of legacy  assets, Group net income  came to EUR  2,934 
million for 9M 13, up +4.3% vs. 9M 12.

The Group's ROE, excluding non-economic items, non-recurring items and  legacy 
assets, stood at 8.5% in  Q3 13 (4.3% in  absolute terms). ROTE calculated  on 
the same basis came to 9.9% (5.0%  in absolute terms). When calculated for  9M 
13, ROE was 8.6% excluding non-economic items, non-recurring items and  legacy 
assets (and 5.2%  in absolute  terms) for  a ROTE  of 10.1%  (6.1% in  absolue 
terms).

Earnings per share amounts  to EUR 2.12  for the first 9  months of the  year, 
after deducting interest payable to  holders of deeply subordinated notes  and 
undated subordinated notes^(2^).

In view of the  significant reinforcement of the  Group's capital ratios,  the 
Group confirms the  hypothesis of a  cash dividend  on the basis  of a  payout 
ratio of 25%, without use of a scrip dividend option.

                      2 -THE GROUP'S FINANCIAL STRUCTURE

Group shareholders' equity  totalled EUR 50.9  billion^(1) at September  30th, 
2013 and tangible net  asset value per share  was EUR 48.83 (corresponding  to 
net asset value per share of EUR 56.73, including
EUR 1.04 of unrealised capital gains).

The consolidated balance sheet totalled  EUR 1,254 billion at September  30th, 
2013 (EUR 1,282  billion in  Q3 12  and EUR  1,250 billion  at December  31st, 
2012). The net amount  of customer loans  was EUR 338  billion, down EUR  -12 
billion vs. December  31st, 2012 (EUR  -22 billion in  Q3 12), reflecting  the 
slowdown in credit demand. At the same time, customer deposits amounted to EUR
350 billion, up EUR +13 billion vs. December 31st, 2012 (EUR +4 billion in  Q3 
12).

The Group's funded balance sheet (see methodology note No. 7) totalled EUR 629
billion at September 30th, 2013, down EUR -23 billion vs. December 31st, 2012,
with  a  loan/deposit  ratio  of  110%  vs.  118%  at  December  31st,   2012. 
To-date^(2), the Group has raised EUR 23.4 billion of medium/long-term debt in
2013, with an average maturity of 5.8 years, exceeding its financing needs for
the year. The Group's liquid asset buffer (net available central bank deposits
and unencumbered central  bank eligible  assets) totalled EUR  137 billion  at 
September 30th(vs. EUR 133 billion at  December 31st, 2012), covering 129%  of 
short-term financing needs.

The Group's risk-weighted  assets (calculated  according to  Basel 2.5  rules) 
amounted to EUR 310.4 billion at end-September 2013 (vs. EUR 337.1 billion  at 
end-September 2012 and  EUR 324.1  billion at  end-2012). The  decline in  the 
Group's risk-weighted assets continued, especially for market risks (-9.0%  in 
the space  of  a  year). Each  of  the  Group's pillars  accounts  for  around 
one-third of prudential  commitments, with  a predominance  of retail  banking 
activities: EUR 91.4  billion in the  French Networks, EUR  106.4 billion  for 
International Banking & Financial  Services and EUR  106.2 billion for  Global 
Banking & Investor Solutions.  In line with continuing  efforts to reduce  the 
legacy asset portfolio, this portfolio's risk-weighted assets were down -24.4%
in Q3 (and  reduced by almost  two-thirds in the  space of a  year); they  now 
account for 1.8% of the Group's risk-weighted commitments.

The Group's Core Tier 1 ratio, calculated according to Basel 2.5 rules,  stood 
at 11.6%^(3). According to Basel 3 rules^(4), it amounted to 9.9% at September
30th, up +51  basis points  in Q3.  The majority of  this increase  is due  to 
capital generation  (income, net  of dividends,  for Q3  and capital  increase 
reserved for  employees,  +22 basis  points)  and initiatives  to  reduce  the 
Group's legacy asset  portfolio (+21 basis  points). The Tier  1 ratio  (Basel 
2.5) stood at 13.5% at end-September 2013 (vs.12.0% a year earlier).

The leverage ratio stood at 3.3% according to Basel 3 rules^(4).

The Group is rated by  the rating agencies DBRS  (AA - low), FitchRatings  (A, 
rating allocated on July 17th, 2013), Moody's (A2) and Standard & Poor's (A).

3 - FRENCH NETWORKS

In EUR m                Q3 12   Q3 13   Change   9M 12   9M 13   Change
                                        Q3 vs. Q3                 9M vs. 9M
Net banking income      2,010   2,036    +1.3%    6,093   6,120    +0.4%
                                        +2.0%(1)                  +1.2%(1)
Operating expenses     (1,258) (1,293)   +2.8%   (3,882) (3,901)   +0.5%
Gross operating income   752     743     -1.2%    2,211   2,219    +0.4%
                                        +0.8%(1)                  +2.5%(1)
Net cost of risk        (216)   (263)   +21.8%    (631)   (838)   +32.8%
Operating income         536     480    -10.4%    1,580   1,381   -12.6%
Group net income         351     308    -12.3%    1,037    883    -14.9%
(1) Excluding PEL/CEL

The French Networks delivered a solid performance and higher revenues, despite
a still challenging macro-economic environment in France in Q3.

Despite  a  still  competitive  market  for  deposit  inflow,  balance   sheet 
outstandings rose +9.6% vs. Q3 12  to EUR 156.9 billion. This performance  was 
driven by  the inflow  on  term deposits  and  certificates of  deposit  which 
progressed +24.6% vs. Q3 12. Regulated savings (excluding PEL savings account)
were 8.4%  higher.  Livret  A  (passbook  savings  accounts)  and  sustainable 
development savings  accounts  continued  to  benefit  from  the  increase  in 
ceilings. The  French  Networks  remained fully  committed  to  serving  their 
customers and continued to support the economy, assisting both businesses  and 
individuals with  the  financing  of  their  projects.  Outstanding  loans  to 
businesses amounted to EUR  77.7 billion (EUR 79.9  billion in Q3 12)  whereas 
outstanding loans to individuals totalled EUR 95.2 billion (stable vs. Q3 12).
The loan/deposit ratio stood at 111% in Q3 13 vs. 114% in Q2 13 and 123% in Q3
12.

Societe Generale was awarded the title of "Customer Service of the Year  2014" 
in the  Banking Category,  attributed by  Viséo Conseil  in October  2013.  It 
rewards the commitment  of the Bank's  teams in satisfying  its customers.  In 
September 2013, Boursorama  was named "best  online bank" by  the magazine  Le 
Revenu, (for professional profile clients). 

The French Networks' revenues were up +1.3% vs. Q3 12, with net banking income
of EUR 2,036 million in Q3 13. Net  banking income was 2.0% higher than in  Q3 
12 excluding PEL/CEL provisions. The increase in the interest margin excluding
PEL/CEL provisions (+2.9% vs. Q3 12)  can be explained by a favourable  volume 
effect on deposits, the decline in the  Livret A rate and a positive trend  in 
the loan margin.  Commissions rose  +1.0% over  this same  period. The  French 
Networks generated net  banking income  of EUR 6,120  million in  the first  9 
months of the year, up 1.2% vs. 9M 12 (excluding PEL/CEL provisions).

Operating expenses were  2.8% higher than  in Q3 12,  mainly due to  temporary 
effects^(1). The French Networks generated  gross operating income of EUR  743 
million, up +0.8%  (excluding PEL/CEL  provisions). At 0.5%,  the increase  in 
operating expenses was more moderate^(1) in the first 9 months of the year and
the French Networks generated gross operating income of EUR 2,219 million,  up 
+2.5% vs. 9M 12 (excluding PEL/CEL provisions).

The net cost of risk amounted to EUR 263 million in Q3 13 vs. EUR 216  million 
in Q3 12. The  cost of risk  (expressed as a  fraction of outstanding  loans) 
was down 1 basis point vs. Q2 13 at 57 basis points in Q3 13.

The French Networks' contribution to Group net income totalled EUR 308 million
in Q3  13 (down  -12.3% vs.  Q3  12) against  the backdrop  of a  weak  French 
economy. The figure for the first nine months of the year was EUR 883  million 
(EUR 1,037 million in 9M 12).

4 -INTERNATIONAL BANKING & FINANCIAL SERVICES

The new International Banking & Financial Services division encompasses
International Retail Banking and Specialised Financial Services & Insurance.

            International Banking and     International Retail      Specialised Financial
                Financial Services                Banking              Services & Insurance
            Q3 12   Q3 13     Change    Q3 12 Q3 13    Change     Q3 12 Q3 13    Change
                             Q3 vs. Q3                 Q3 vs. Q3                  Q3 vs. Q3
Net        2,119   1,972  -6.9%  +2.7%* 1,250 1,084 -13.3% +1.4%*   869   888  +2.2%  +4.4%*
banking
income
Operating (1,180) (1,096) -7.1%  +3.6%* (732) (655) -10.5% +4.7%*  (448) (441) -1.6%  +2.1%*
expenses
Gross       939     876   -6.7%  +1.6%*  518   429  -17.2% -3.3%*   421   447  +6.2%  +6.8%*
operating
income
Net cost   (480)   (412)  -14.2% -1.5%* (302) (256) -15.2% +4.0%*  (178) (156) -12.4% -9.3%*
of risk
Operating   459     464   +1.1%  +4.5%*  216   173  -19.9% -12.2%*  243   291  +19.8% +18.3%*
income
Group net   291     289   -0.7%  -0.1%*  112   84   -25.0% -23.5%*  179   205  +14.5% +14.9%*
income
* When adjusted for changes in Group structure and
at constant exchange rates

             International Banking and   International Retail Banking     Specialised Financial
                 Financial Services                                          Services & Insurance
            9M 12   9M 13     Change      9M 12   9M 13     Change     9M 12   9M 13     Change
                             9M vs. 9M                      9M vs. 9M                     9M vs. 9M
Net        6,310   5,962  -5.5%  +1.7%*   3,715   3,315  -10.8% +0.5%*  2,595   2,647  +2.0%  +3.1%*
banking
income
Operating (3,604) (3,357) -6.9%  +1.4%*  (2,248) (2,015) -10.4% +1.6%* (1,356) (1,342) -1.0%  +1.1%*
expenses
Gross      2,706   2,605  -3.7%  +2.0%*   1,467   1,300  -11.4% -1.0%*  1,239   1,305  +5.3%  +5.2%*
operating
income
Net cost  (1,524) (1,272) -16.5% -1.5%*  (1,012)  (808)  -20.2% +2.0%*  (512)   (464)  -9.4%  -7.0%*
of risk
Operating  1,182   1,333  +12.8% +5.8%*    455     492   +8.1%  -5.7%*   727     841   +15.7% +13.7%*
income
Group net   435     816   +87.6% +63.0%*  (74)     222     NM    NM*     509     594   +16.7% +16.8%*
income
* When adjusted for changes in Group structure and at constant
exchange rates

4.1International Retail Banking

In EUR m                  Q3 12 Q3 13  Change   9M 12   9M 13   Change
                                       Q3 vs. Q3                 9M vs. 9M
Net banking income        1,250 1,084  -13.3%    3,715   3,315   -10.8%
On a like-for-like basis*                 +1.4%                     +0.5%
Operating expenses        (732) (655)  -10.5%   (2,248) (2,015)  -10.4%
On a like-for-like basis*                 +4.7%                     +1.6%
Gross operating income     518   429   -17.2%    1,467   1,300   -11.4%
On a like-for-like basis*                 -3.3%                     -1.0%
Net cost of risk          (302) (256)  -15.2%   (1,012)  (808)   -20.2%
Operating income           216   173   -19.9%     455     492     +8.1%
On a like-for-like basis*                -12.2%                     -5.7%
Group net income           112   84    -25.0%    (74)     222      NM

International Retail Banking's  Q3 commercial activity  continued in the  same 
vein as H1 2013.

At EUR  61.6 billion,  there was  a slight  increase in  International  Retail 
Banking's outstanding  loans  (+0.8%*  vs.  Q3 12)  against  the  backdrop  of 
sluggish economic growth in Europe,  with a contrasting trend in  outstandings 
between business customers (-4.5%*) and individual customers (+7.9%). In  this 
environment, Russia and the Czech Republic stood out on account of the dynamic
growth of their outstanding loans.

At the  same time,  there was  an acceleration  in the  growth of  outstanding 
deposits (+9.2%*) vs. end-September 2012 to EUR 64.4 billion in Q3 13, with  a 
particularly strong inflow for business customers and still buoyant growth  in 
Russia (+20%*) and in Central and Eastern European countries (+14.7%*).

International Retail Banking revenues rose slightly (+1.4%* vs. Q3 12) to  EUR 
1,084 million. Revenues were higher in Russia and Sub-Saharan Africa,  whereas 
they were stable  in the Czech  Republic and lower  in Romania in  conjunction 
with  the  continuing  low  interest  rate  environment  in  Europe,  and   in 
theMediterranean Basin.

Costs rose +4.7%* vs.  Q3 12, due primarily  to wage increases in  Sub-Saharan 
Africa and theMediterranean Basin and ongoing expansion in these regions.

The division's gross operating income came to EUR +429 million in Q3 13,  down 
-3.3%* vs. Q3 12.

International Retail Banking's contribution to  Group net income totalled  EUR 
+84 million in Q3 13. This was
-25.0% lower than in Q3  12, but higher than in  the previous quarter (EUR  59 
million).

The division posted revenues of EUR  3,315 million, gross operating income  of 
EUR 1,300 million and a contribution to Group net income of EUR 222 million in
the first 9 months of 2013.

In Russia (structure including Rosbank,  Delta Credit and 25% of  Rusfinance), 
the Q3 results  provided further evidence  of the improvement  observed in  H1 
2013. Commercial  growth remains  on  a solid  trend: outstanding  loans  rose 
+10.2%* vs.  Q3 12  to EUR  12.3  billion, driven  by the  dynamic  individual 
customer segment (+18.8%*). Despite a healthy level of loan production in  Q3, 
outstanding loans to business  customers were slightly lower  due to the  high 
level of  loan repayments  over  the period.  At  the same  time,  outstanding 
deposits enjoyed robust growth for both customer segments (up +20% at EUR  8.7 
billion overall),  reflecting  the  success of  the  deposit  inflow  strategy 
initiated by the  Group. As  a result,  the loan/deposit  ratio continued  to 
rapidly improve.

These good  results were  reflected  in the  increase  in net  banking  income 
(+16.8%*)^(^[1]^) vs.  Q3  12. Over  the  same period,  costs  remained  under 
control (+4.8%*) against the backdrop of inflation close to 6.5% in 2013.  The 
contribution to Group net income came to EUR 13 million, up +44%* vs. Q3 12.
All in all, the SG Russia^(^[2]^) entity made a EUR 32 million contribution to
Q3 Group net income. The SG Russia entity's ROE stood at 10.3% in Q3 13, based
on the normative capital allocated by the Group.

In the Czech Republic, despite  a sluggish economic environment and  increased 
competition, Komercni  Banka's  (KB)  commercial  activity  remained  buoyant: 
outstanding loans rose +3.2%* (to  EUR 17.9 billion) and outstanding  deposits 
increased +7.8%* vs. end-September 2012  (to EUR 23.8 billion). This  positive 
volume effect was offset by the successive margin declines on deposits in 2013
due to low interest rates.  As a result, there was  a slight drop in  revenues 
(-0.7%*) vs. Q3  12 to  EUR 269  million. Over the  same period,  there was  a 
limited increase  (+0.8%*)  in operating  expenses  to EUR  130  million.  The 
contribution to Group net income amounted to EUR 60 million in Q3 13 (vs.  EUR 
63 million in Q3 12).

In Romania, in a still  fragile economic environment, BRD's outstanding  loans 
were down -10.1%* (at
EUR 6.7  billion) vs.  end-September  2012, adversely  affected by  the  sharp 
decline in the business segment, whereas outstandings for individual customers
were  stable.   Over  the   same   period,  outstanding   deposits   increased 
substantially (+6.7%* to EUR 7.6 billion), driven by the business segment  and 
reflecting businesses' wait-and-see attitude. Against this backdrop, Romania's
revenues came  to EUR  145 million  in Q3  13 (down  -2.0%* vs.  Q3 12)  while 
operating expenses  amounted  to EUR  82  million.  Net income  was  close  to 
breakeven (loss of EUR -7 million vs. a loss of EUR -15 million in Q3 12).

In the other  Central and  Eastern European  countries, the  Group gained  new 
customers (number of customers up 6.1% vs. Q3 12) and substantially  increased 
its outstanding deposits  which rose +14.7%*  (to EUR 7.5  billion) driven  by 
business customers. In contrast with this momentum, loan activity  experienced 
weak growth over  the same  period (+0.7%* to  EUR 8.4  billion). Despite  the 
positive volume effect from  deposits, revenues were stable  vs. Q3 12 at  EUR 
126 million (+0.3%*) due to the decline in activity in Croatia. Over the  same 
period, costs were  6.4%* higher owing  to an increase  in payroll costs.  The 
region's net income came to EUR 4 million.

In the Mediterranean Basin, deposits  were 3.0%* higher than at  end-September 
2012 at EUR 7.8 billion, with a marked increase in Algeria. Outstanding  loans 
remained lower in  Q3 13  (-3.7%* vs.  Q3 12  at EUR  7.9 billion),  adversely 
affected by a decline in Morocco. Net banking income was down -3.4%* vs. Q3 12
due primarily to a  change in commission and  foreign exchange regulations  in 
Algeria.  Over  the  same  period,  operating  expenses  increased  +5.8%*  in 
conjunction with the network's  expansion (16 new branches  in the space of  a 
year) and due to the effect of high local inflation.

In Sub-Saharan Africa,  outstanding loans  rose +2.3%* vs.  Q3 12  to EUR  3.0 
billion, despite the decline observed in Côte d'Ivoire, which partially masked
the good performances in the individual customer segment. There was a  further 
strong increase in outstanding deposits (+6.3%*)  to EUR 4.2 billion over  the 
same period, resulting in revenues up +6.8%* vs. Q3 12 at EUR 103 million. The
Group expanded its network, with 14 new branches in the space of a year.  This 
led to operating  expenses rising +17.2%*  vs. Q3 12.  Gross operating  income 
came to EUR 37 million.

4.2Specialised Financial Services & Insurance

In EUR m              Q3 12 Q3 13 ChangeQ3 vs.  9M 12   9M 13  Change9M vs.
                                        Q3                            9M
Net banking income     869   888      +2.2%      2,595   2,647      +2.0%
   On a like-for-like                     +4.4%                         +3.1%
                basis*
Operating expenses    (448) (441)     -1.6%     (1,356) (1,342)     -1.0%
   On a like-for-like                     +2.1%                         +1.1%
                basis*
Gross       operating  421   447      +6.2%      1,239   1,305      +5.3%
income
   On a like-for-like                     +6.8%                         +5.2%
                basis*
Net cost of risk      (178) (156)    -12.4%      (512)   (464)      -9.4%
Operating income       243   291     +19.8%       727     841      +15.7%
   On a like-for-like                    +18.3%                        +13.7%
                basis*
Group net income       179   205     +14.5%       509     594      +16.7%

The Specialised Financial Services & Insurance division comprises:

i.Specialised Financial  Services  (operational  vehicle  leasing  and  fleet 
   management, equipment finance, consumer finance),

ii.Insurance (Life, Personal Protection, Property and Casualty).

Specialised Financial Services & Insurance posted a good performance in Q3 13,
with a contribution to Group net income  of EUR 205 million, up +14.5% vs.  Q3 
12.

Operational Vehicle Leasing and Fleet Management experienced continued  growth 
in its fleet: with approximately  990,000 vehicles at end-September 2013,  the 
increase was +5.6%^(1) vs. end-September  2012. Growth was underpinned by  the 
successful development of its partnerships  with car manufacturers and  retail 
banking networks.

Against the backdrop  of a  slowdown in investment,  Equipment Finance  proved 
resilient thanks to  strong positions, particularly  in vendor programs:  new 
business experienced a limited decline (-2.6%*)  vs. Q3 12 to EUR 1.6  billion 
(excluding factoring) - in  Scandinavia and the UK,  new business was  buoyant 
(at respectively  +7.2%* and  +20.3%*). Margins  held up  well thanks  to  the 
business' selective origination policy. Outstandings totalled EUR 16.9 billion
excluding factoring, down -4.0%* vs. end-September 2012.

In  a  still   sluggish  environment,  new   Consumer  Finance  business   was 
nevertheless +3.7%* higher in Q3  13 than in Q3 12  at EUR 2.4 billion on  the 
back of  successful  partnerships in  Germany.  Outstandings fell  -2.2%*  vs. 
end-September 2012 to EUR 21.3 billion.

Specialised Financial Services' net banking income was up +2.5%* vs. Q3 12  at 
EUR 701 million. Gross operating income  increased +5.5%* to EUR 332  million, 
benefiting from stable operating expenses
(EUR -369 million).

Specialised Financial Services' net cost of risk fell to EUR 156 million in Q3
13 (119 basis points) vs.
EUR 178 million in Q3  12 (123 basis points). It  was slightly higher (EUR  +3 
million) than in Q2 13.

Specialised Financial Services' contribution to Group net income totalled  EUR 
124 million (+19.2% vs.
Q3 12) and ROE stood  at 13.7% in Q3 13,  with a stable capital allocation  to 
the businesses since 2009.  The contribution to Group  net income was EUR  352 
million in 9M 13 (+23.1% vs. 9M 12).

Specialised  Financial  Services  continued  with  its  external   refinancing 
initiatives which  totalled  EUR  3.1  billion for  2013.  They  included,  in 
particular,  the  successful   placement  of  the   second  auto   receivables 
securitisation deal in Germany for EUR 915 million.

The Insurance activity posted  a good performance in  Q3 13, with net  banking 
income up +12.0%* vs.
Q3 12, at EUR 187 million.

Outstandings in life  insurance savings continued  to grow in  Q3 to EUR  82.8 
billion (+6.1%*  vs.  end-September 2012)  and  net inflow  totalled  EUR  0.1 
billion in Q3 13.
Personal Protection  and  Property/Casualty  insurance  continued  to  enjoyed 
robust growth, driven  by their  international expansion,  notably in  Poland, 
with premiums up +20.0%* vs. Q3 12.

The Insurance activity's contribution to Group  net income was EUR 81  million 
in Q3 13 and EUR 242 million in the first 9 months of 2013.

5 -GLOBAL BANKING & INVESTOR SOLUTIONS

The new Global Banking & Investor Solutions division encompasses Corporate &
Investment Banking and the activities of Private Banking, Global Investment
Management & Services.

            Global Banking and Investor     Corporate & Investment      Private Banking, Global
                     Solutions                       Banking             Investment Management and
                                                                                  Services
            Q3 12   Q3 13     Change      Q3 12   Q3 13     Change     Q3 12 Q3 13    Change
                             Q3 vs. Q3                      Q3 vs. Q3                  Q3 vs. Q3
Net        2,160   2,155  -0.2%  +7.2%*   1,639   1,696  +3.5%  +7.1%*   521   459  -11.9% +7.4%*
banking
income
Operating (1,470) (1,502) +2.2%  +9.9%*  (1,007) (1,111) +10.3% +14.3%* (463) (391) -15.6% -0.9%*
expenses
Gross       690     653   -5.4%  +1.5%*    632     585   -7.4%  -4.3%*   58    68   +17.2% x 2,1*
operating
income
Net cost   (199)   (231)  +16.1% +19.1%*  (197)   (212)  +7.6%  +10.4%*  (2)  (19)   x9.5  x 9,5*
of risk
Operating   491     422   -14.1% -6.1%*    435     373   -14.3% -11.0%*  56    49   -12.5% +59.5%*
income
Group net   385     366   -4.9%  +2.6%*    322     305   -5.3%  -1.6%*   63    61   -3.2%  +30.5%*
income
* When adjusted for changes in Group structure and at
constant exchange rates

            Global Banking and Investor     Corporate & Investment        Private Banking, Global
                     Solutions                       Banking               Investment Management and
                                                                                    Services
            9M 12   9M 13     Change      9M 12   9M 13     Change      9M 12   9M 13     Change
                             9M vs. 9M                      9M vs. 9M                      9M vs. 9M
Net        6,336   6,705  +5.8%  +12.5%*  4,729   5,288  +11.8% +14.7%*  1,607   1,417  -11.8% +4.8%*
banking
income
Operating (4,651) (4,506) -3.1%  +3.0%*  (3,232) (3,297) +2.0%  +4.1%*  (1,419) (1,209) -14.8% +0.1%*
expenses
Gross      1,685   2,199  +30.5% +38.4%*  1,497   1,991  +33.0% +37.9%*   188     208   +10.6% +43.8%*
operating
income
Net cost   (443)   (487)  +9.9%  +10.9%*  (434)   (466)  +7.4%  +8.4%*    (9)    (21)    x2.3   x 2,3
of risk
Operating  1,242   1,712  +37.8% +48.9%*  1,063   1,525  +43.5% +50.4%*   179     187   +4.5%  +37.9%*
income
Group net   819    1,391  +69.8% +44.8%*   804    1,173  +45.9% +51.9%*   15      218   x14.5  +15.5%*
income
* When adjusted for changes in Group structure and at
constant exchange rates

5.1Corporate & Investment Banking

                                             Change                   Change
In EUR m               Q3 12      Q3 13    Q3 vs. Q3   9M 12   9M 13  9M vs.
                                                                         9M
Net banking income     1,639      1,696      +3.5%     4,729   5,288  +11.8%
  On a like-for-like                            +7.1%                  +14.7%
               basis*
Financing and           481        442       -8.1%     1,146   1,319  +15.1%
Advisory
  On a like-for-like                            -7.5%                  +16.8%
               basis*
Global Markets (1)     1,252      1,193      -4.7%     3,846   3,834   -0.3%
  On a like-for-like                            -0.3%                   +2.5%
               basis*
Legacy assets          (94)        61         NM      (263)    135     NM
Operating expenses    (1,007)    (1,111)     +10.3%   (3,232) (3,297)  +2.0%
  On a like-for-like                           +14.3%                   +4.1%
               basis*
Gross      operating    632        585       -7.4%     1,497   1,991  +33.0%
income
  On a like-for-like                            -4.3%                  +37.9%
               basis*
Net cost of risk       (197)      (212)      +7.6%     (434)   (466)   +7.4%
O.w. Legacy assets      (14)      (154)      x11.0     (167)   (320)  +91.6%
Operating income        435        373       -14.3%    1,063   1,525  +43.5%
  On a like-for-like                           -11.0%                  +50.4%
               basis*
Group net income        322        305       -5.3%      804    1,173  +45.9%
(1) O.w. "Equities" EUR 675m in Q3 13 (EUR 575m in Q3
12) and "Fixed income, Currencies and Commodities" EUR
517m in Q3 13 (EUR 678m in Q3 12)

Corporate & Investment Banking revenues totalled  EUR 1,696 million in Q3  13, 
an increase of +7.1%* vs. Q3 12. Revenues were up +14.7%* at EUR 5,288 million
in the first 9 months of the year vs. EUR 4,729 million in 9M 12.

Corporate & Investment Banking's core  activities posted revenues down  -2.3%* 
year-on-year, at
EUR 1,635 million in Q313. This was due to an unfavourable comparison  effect 
with Q3 12, which  was supported by the  ECB's accommodative monetary  policy. 
When restated for  various non-recurring items  (in Q3 13:  EUR -8 million  in 
respect of  CVA/DVA^(1); in  Q3 12:  EUR -84  million in  respect of  the  net 
discount on  loan sales),  revenues were  -9.6% lower  year-on-year.  Revenues 
totalled EUR 5,153 million  in the first  9 months of the  year vs. EUR  4,992 
million in 9M 12, demonstrating the recurring nature and low volatility of the
revenues of SG CIB's core activities, which were underpinned by  client-driven 
activity.

At EUR 675 million, Equity activities turned in a solid commercial performance
for both structured and flow products. The division's revenues were up  +11.0% 
year-on-year excluding the positive CVA/DVA  contribution of EUR +38  million. 
Lyxor's assets under management were also higher, on the back of a substantial
inflow in Q3  in line with  the extension  of its product  range. Finally,  SG 
CIB's multi-product expertise on structured  products was once again  rewarded 
with it being voted  "Most Innovative Investment  Bank in Structured  Investor 
Products" by the magazine "The Banker" (October 2013).

Despite  an  unfavourable  market  environment,  Fixed  Income,  Currencies  & 
Commodities posted  resilient revenues  vs.  Q3 12  which represented  a  high 
comparison base. When restated for the  CVA/DVA impact of EUR -21 million  in 
Q3 13,  revenues were  down  -20.7% year-on-year.  Fixed income  and  currency 
activities delivered a strong  commercial performance on  the back of  buoyant 
demand in  Europe, especially  from  Corporate clients.  For example,  SG  CIB 
participated as  global  coordinator  in  a  major  rate  hedging  transaction 
(nominal value of  EUR 42 billion)  on behalf of  SAREB^(2) (asset  management 
company in charge of the banking restructuring plan in Spain).
At EUR 443 million,  Financing & Advisory  revenues were lower  than in Q3  12 
(-17.0% when restated for the CVA/DVA impact  of EUR -25 million in Q3 13  and 
the net discount on loan sales as  part of deleveraging, amounting to EUR  -84 
million in Q3 12). Financing activities'  results were mixed: they were  lower 
compared with a particularly strong Q3 12,  but higher for the first 9  months 
of the  year. SG  CIB strengthened  its capital  markets positioning.  It  was 
ranked^(1) No. 5 in "all international Euro denominated bonds", No. 3 in  "all 
Euro corporate bonds", No. 6 in "all Euro financial institution bonds" and No.
7 in "ECM and EQL Euro denominated".  SG CIB played a leading role in  several 
deals: in particular, it was mandated by the UK Debt Management Office as lead
manager for the reopening of its GBP 30-year inflation-linked benchmark  bond. 
This issue represents the fourth syndicated transaction by the UK DMO and  the 
second for an index-linked bond in respect of its 2013/2014 programme. SG  CIB 
also acted  as  Lead  Arranger for  the  implementation  of a  USD  8  billion 
syndicated loan for Alibaba in Asia.

Legacy assets made a positive revenue contribution of EUR 61 million in Q3 13.
During the quarter, the Group continued  with its policy of reducing the  size 
of the  portfolio  of  non-investment  grade assets  for  which  net  exposure 
declined from EUR 1.8  billion to EUR 1.0  billion. Revenues totalled EUR  135 
million in the first 9 months of the year vs. EUR -263 million in 9M 12.

The division's operating expenses amounted to EUR -1,111 million in Q3 13,  up 
+14.3%* vs. Q3 12. This was due primarily to the allocation of systemic  taxes 
to the businesses as from Q4 12,  an increase in the "Contribution Sociale  de 
Solidarité des Sociétés" (corporate social solidarity contribution), and other
temporary factors. There was a limited  increase in operating expenses in  the 
first 9  months of  the year  (+4.1%* to  EUR -3,297  million vs.  EUR  -3,232 
million in 9M 12).

Corporate & Investment Banking's net cost of risk amounted to EUR -212 million
in Q3 13, up +10.4%* year-on-year. Core activities' cost of risk remained  low 
at 19 basis points. Legacy assets' net  cost of risk came to EUR -154  million 
in Q3 13, due largely to the efforts to reduce the size of the portfolio.

The net cost  of risk  increased +8.4%*  to EUR -466  million in  the first  9 
months of the year (vs. EUR -434 million in 9M 12).

Corporate & Investment Banking's contribution to Group net income totalled EUR
305 million in Q3 vs.
EUR 322 million in Q3 12. The  contribution to Group net income was EUR  1,173 
million in the first 9 months of the year, substantially higher than in 9M  12 
(+45.9%). ROE came to 12% overall in the  first 9 months of the year (Basel  3 
at 10%) and 17% for core activities.

5.2Private Banking, Global Investment Management & Services

In EUR m                  Q3 12 Q3 13  Change   9M 12   9M 13   Change
                                       Q3 vs. Q3                 9M vs. 9M
Net banking income         521   459   -11.9%    1,607   1,417   -11.8%
On a like-for-like basis*                 +7.4%                     +4.8%
Operating expenses        (463) (391)  -15.6%   (1,419) (1,209)  -14.8%
On a like-for-like basis*                 -0.9%                     +0.1%
Operating income           56    49    -12.5%     179     187     +4.5%
On a like-for-like basis*                +59.5%                    +37.9%
Group net income           63    61     -3.2%     15      218     x14.5
o.w. Private Banking         16    42      x2.6      66     130    +97.0%
o.w. Asset Management        39    21    -46.2%    (92)      71        NM
o.w. SG SS & Brokers          8   (2)        NM      41      17    -58.5%

Private Banking,  Global Investment  Management &  Services consists  of  four 
activities:

i.Private Banking (Societe Generale Private Banking)

ii.Societe Generale Securities Services (SGSS)

iii.Brokerage (Newedge^(1))

iv.Asset Management (Amundi^(1), TCW which was sold on February 6th, 2013)

Global Investment Management & Services'  Q3 contribution to Group net  income 
was in line with
Q3 12, in an unfavourable market environment.

The division's revenues of EUR 459 million were up +7.4%* year-on-year. At EUR
-391 million,  operating  expenses were  -0.9%*  lower  than in  Q3  12.  This 
resulted in gross operating income of EUR 68 million, a twofold* increase  vs. 
Q3 12.  The  division's contribution  to  Group  net income  totalled  EUR  61 
million, vs. EUR 63 million in Q3 12.

Net banking income amounted to EUR 1,417 million in the first 9 months of  the 
year, up +4.8%* vs. 9M  12. The contribution to Group  net income came to  EUR 
218 million vs. EUR 215 million in 9M 12, excluding goodwill write-down of EUR
200 million recorded in Q2 12.

Private Banking

Private Banking enjoyed robust commercial activity in Q3 13, particularly  for 
structured products. This  performance helped  boost the gross  margin to  108 
basis points (99 basis points^(2)) vs. 83 basis points in
Q3 12.  The business  line's  assets under  management  amounted to  EUR  83.9 
billion at  end-September. This  was due  to  a positive  inflow of  EUR  +0.8 
billion in Q3, mainly driven by France and Asia, a "market" effect of EUR +0.7
billion and a "currency" impact of EUR +0.1 billion. In contrast, the disposal
of the business in Japan on October 1st generated a "structure" effect of  EUR 
-2.2 billion.  In  October,  Private Banking  was  named  "Outstanding  Wealth 
Manager and Trust Provider" by PrivateBanker International.

At EUR  227 million,  Private  Banking's revenues  rose +16.0%^(2)vs.  Q3  12. 
Operating expenses were stable over the same period at EUR 156 million.  Gross 
operating income totalled EUR +71 million in Q3 (vs.
EUR 24 million in Q3 12). The business line's contribution to Group net income
amounted to EUR 42  million (vs. EUR 16  million in Q3 12)  despite a EUR  -15 
million provision in Q3 13 for two loan dossiers.
Net banking income amounted to  EUR 663 million in the  first 9 months of  the 
year, up +16.4%^(2) vs. 9M 12. Operating expenses were 3.2% higher at EUR -477
million and Private  Banking's contribution to  Group net income  was EUR  130 
million vs. EUR 66 million in 9M 12.

Societe Generale Securities Services (SGSS) and Brokerage (Newedge)

Securities Services saw its assets under  custody increase +7.7% to EUR  3,609 
billion vs. end-September 2012. Assets  under administration rose +11.6%  over 
the same period  to EUR 500  billion. Newedge retained  a stable market  share 
(11.9%) in  9M 13  vs. 9M  12  in a  bear market  environment, and  despite  a 
backdrop of restructuring. 

At EUR 224 million, Securities Services and Brokerage revenues fell -9.7%*  in 
Q3 vs.  Q3  12, due  to  the decline  in  brokerage revenues.  The  businesses 
continued with  their operating  efficiency initiatives,  which helped  reduce 
operating expenses by -4.6%* vs. Q3  12 to EUR -226 million. The  contribution 
to Group net income amounted to EUR -2 million.

Net banking income amounted to  EUR 734 million in the  first 9 months of  the 
year, down -8.1%* year-on-year. Operating expenses declined -4.7%* to EUR -706
million and the business line's contribution to Group net income totalled  EUR 
17 million.

Asset Management

Amundi's contribution to Group net income came to EUR 22 million in Q3 13 (EUR
26 million in Q3  12) and EUR 75  million in the first  9 months of the  year 
(EUR 87 million in 9M 12).

6 -CORPORATE CENTRE

In EUR m                  Q3 12 Q3 13  Change   9M 12   9M 13   Change
                                       Q3 vs. Q3                 9M vs. 9M
Net banking income        (892) (435)  +51.2%    (759)  (1,738)    NM
On a like-for-like basis*                +53.0%                        NM
Operating expenses        (68)  (48)   -29.4%    (150)   (150)    -0.0%
On a like-for-like basis*                -28.4%                     +0.7%
Gross operating income    (960) (483)  +49.7%    (909)  (1,888)    NM
On a like-for-like basis*                +51.3%                    -95.0%
Net cost of risk           (2)  (188)   x94.0    (23)    (410)    x17.8
Operating income          (962) (671)  +30.2%    (932)  (2,298)    NM
On a like-for-like basis*                +32.5%                        NM
Group net income          (937) (429)  +54.2%   (1,030) (1,237)  -20.1%

The Corporate Centre includes:

   - the Group's property portfolio, offices and other premises

   - the banking and industrial equity portfolio

-  the   Treasury  function   for  the   Group,  certain   costs  related   to 
cross-functional projects  and certain  costs incurred  by the  Group and  not 
reinvoiced..

The Corporate Centre's net banking income  amounted to EUR -435 million in  Q3 
13 vs. EUR -892 million in Q3  12. It includes the revaluation of the  Group's 
own financial liabilities amounting to EUR -223 million (vs. EUR -594  million 
in Q3 12).

Q3 operating expenses amounted to  EUR -48 million vs.  EUR -68 million in  Q3 
12.

Gross operating income came to EUR -483  million in Q3. When restated for  the 
non-economic item mentioned above, it amounted to EUR -260 million and can  be 
explained  principally  by  the  additional  financing  cost  for  the  excess 
liquidity currently held by the Group.  This is borne by the Corporate  Centre 
which provides the Group's Treasury function.

The net cost of risk amounted to EUR -188 million in Q3 13, vs. EUR -2 million
in Q3 12,  due to  an additional  collective provision  for litigation  issues 
amounting to EUR -200 million.

The net result for the Corporate Centre was a loss of EUR -429 million in  Q3 
13, vs. EUR -937 million in
Q3 12.

Gross operating income totalled  EUR -1,888 million in  the first 9 months  of 
the year, vs. EUR -909  million in 9M 12.  When restated for non-economic  and 
non-recurring items (see  methodology note  No. 8),  it amounted  to EUR  -706 
million. The contribution to Group net income was EUR -1,237 million, vs.  EUR 
-1,030 million in 9M 12.

7 -2013/2014 FINANCIAL CALENDAR

2013 financial communication calendar



February 12th, 2014  Publication of fourth quarter and FY 2013 results
May 6th, 2014  Publication of first quarter 2014 results
May 13th, 2014  Investor Day
May 20th, 2014    Annual General Meeting

This document may contain a number  of forecasts and comments relating to  the 
targets and  strategies of  the Societe  Generale Group.  These forecasts  are 
based on a series of assumptions, both general and specific (notably -  unless 
specified otherwise - the application of accounting principles and methods  in 
accordance with  IFRS  as  adopted  in  the European  Union  as  well  as  the 
application of existing prudential regulations).
This information was developed  from scenarios based on  a number of  economic 
assumptions for a given competitive and regulatory environment. The Group  may 
be unable to:
- anticipate all the  risks, uncertainties or other  factors likely to  affect 
its business and to appraise their potential impact on its operations;
- precisely  evaluate  the  extent  to  which the  occurrence  of  a  risk  or 
combination of  risks could  cause actual  results to  differ materially  from 
those contemplated in this press release.
There is a risk that these projections will not be met. Investors are  advised 
to take into  account factors  of uncertainty and  risk likely  to impact  the 
operations of the Group when basing their investment decisions on  information 
provided in this document.
Unless otherwise specified, the sources for the rankings are internal.

8 -Appendix 1: statistical data

CONSOLIDATED INCOME STATEMENT
(in EUR millions)
               Q3 12   Q3 13     Change      9M 12    9M 13       Change
                                Q3 vs. Q3                         9M vs. 9M
Net banking   5,397   5,728  +6.1%  +14.3%*  17,980   17,049   -5.2%  -0.3%*
income
Operating    (3,976) (3,939) -0.9%  +5.1%*  (12,287) (11,914)  -3.0%  +1.7%*
expenses
Gross         1,421   1,789  +25.9% +41.6%*  5,693    5,135    -9.8%  -4.7%*
operating
income
Net cost of   (897)  (1,094) +22.0% +31.9%* (2,621)  (3,007)  +14.7%  +27.0%*
risk
Operating      524     695   +32.6% +60.2%*  3,072    2,128   -30.7%  -29.8%*
income
Net profits   (481)    (7)   +98.5%          (488)     441      NM
or losses
from other
assets
Net income     43      33    -23.3%           104      109     +4.8%
from
companies
accounted for
by the equity
method
Impairment      0       0      NM            (450)      0     +100.0%
losses on
goodwill
Income tax     119    (91)     NM            (622)    (516)   -17.0%
Net income     205     630    x3.1           1,616    2,162   +33.8%
O.w. non       115     96    -16.5%           355      309    -13.0%
controlling
interests
Group net      90      534    x5.9  -1.5%*   1,261    1,853   +46.9%  -8.4%*
income
Group ROTE    0.2%    5.0%                    4.1%     6.1%
(after tax)
Tier 1                                       12.0%    13.5%
ratio at end
of period
* When adjusted for changes in Group structure and at constant exchange
rates

NET INCOME AFTER TAX BY CORE BUSINESS
(in EUR millions)
                               Q3 12 Q3 13  Change   9M 12   9M 13   Change
                                           Q3 vs. Q3                 9M vs. 9M
French Networks                351   308   -12.3%    1,037    883    -14.9%
International Retail Banking   112   84    -25.0%    (74)     222      NM
Specialised Financial          179   205   +14.5%     509     594    +16.7%
Services & Insurance
Corporate & Investment         322   305   -5.3%      804    1,173   +45.9%
Banking
Private Banking, Global        63    61    -3.2%      15      218     x14.5
Investment Management and
Services
o.w. Private Banking           16    42     x2.6      66      130    +97.0%
o.w. Asset Management          39    21    -46.2%    (92)     71       NM
o.w. SG SS & Brokers            8    (2)     NM       41      17     -58.5%
CORE BUSINESSES               1,027  963   -6.2%     2,291   3,090   +34.9%
Corporate Centre              (937) (429)  +54.2%   (1,030) (1,237)  -20.1%
GROUP                          90    534    x5.9     1,261   1,853   +46.9%

CONSOLIDated balance sheet

Assets (in billions of euros)              September 30, December 31, % change
                                                    2013         2012
Cash, due from central banks                        57.9         67.6     -14%
Financial assets measured at fair value            498.4        484.0      +3%
through profit and loss
Hedging derivatives                                 12.6         15.9     -21%
Available-for-sale financial assets                132.6        127.7      +4%
Due from banks                                      97.7         77.2     +27%
Customer loans                                     337.8        350.2      -4%
Lease financing and similar agreements              27.7         28.7      -3%
Revaluation differences on portfolios                3.2          4.4     -27%
hedged against interest rate risk
Held-to-maturity financial assets                    1.0          1.2     -17%
Tax assets                                           6.5          6.2      +6%
Other assets                                        53.6         53.6       0%
Non-current assets held for sale                     0.5          9.4     -95%
Deferred profit-sharing                              0.0          0.0      n/s
Investments in subsidiaries and affiliates           2.1          2.1      -1%
accounted for by equity method
Tangible and intangible fixed assets                17.4         17.2      +1%
Goodwill                                             5.2          5.3      -3%
Total                                            1,254.4      1,250.9       0%

Liabilities (in billions of euros)    September 30, 2013 December 31, % change
                                                                 2012
Due to central banks                                 6.3          2.4    x 2,6
Financial liabilities measured at                  433.1        411.4      +5%
fair value through profit and loss
Hedging derivatives                                 10.9         14.0     -22%
Due to banks                                       106.1        122.0     -13%
Customer deposits                                  350.4        337.2      +4%
Securitised debt payables                          121.4        135.8     -11%
Revaluation differences on portfolios                4.1          6.5     -38%
hedged against interest rate risk
Tax liabilities                                      1.2          1.2      +2%
Other liabilities                                   58.0         58.2       0%
Non-current liabilities held for sale                1.0          7.3     -87%
Underwriting reserves of insurance                  95.6         90.8      +5%
companies
Provisions                                           4.0          3.5     +14%
Subordinated debt                                    7.6          7.1      +7%
Shareholders' equity                                50.9         49.3      +3%
Non controlling Interests                            4.0          4.3      -8%
Total                                            1,254.4      1,250.9       0%

9 -APPENDIX 2: METHODOLOGY

1- The Group's consolidated results as  at September 30th, 2013 were  examined 
by the Board of Directors on November 6th, 2013.

The financial information presented for the nine-month period ended  September 
30th, 2013  has  been prepared  in  accordance with  IFRS  as adopted  in  the 
European Union and applicable  at that date.  This financial information  does 
not constitute a set of financial statements for an interim period as  defined 
by IAS 34 "Interim Financial Reporting". Societe Generale's management intends
to publish  full consolidated  financial  statements in  respect of  the  2013 
financial year.

Note that the data for the 2012  financial year have been restated due to  the 
implementation of the revised IAS 19, resulting in the publication of adjusted
data for the previous financial year.

2- Group ROE is calculated on the basis of average Group shareholders'  equity 
under IFRS excluding
(i) unrealised  or deferred  capital  gains or  losses booked  directly  under 
shareholders' equity excluding conversion  reserves, (ii) deeply  subordinated 
notes, (iii)  undated subordinated  notes recognised  as shareholders'  equity 
("restated"), and  deducting  (iv)  interest  payable  to  holders  of  deeply 
subordinated notes and of  the restated, undated  subordinated notes. The  net 
income used to calculate ROE is based on Group net income excluding  interest, 
net of tax impact, to be paid to holders of deeply subordinated notes for  the 
period and, since  2006, holders  of deeply subordinated  notes and  restated, 
undated subordinated notes (EUR 79 million at end-September 2013).
As from  January  1st,  2012,  the allocation  of  capital  to  the  different 
businesses is based  on 9%  of risk-weighted assets  at the  beginning of  the 
period, vs. 7% previously. The  published quarterly data related to  allocated 
capital have  been  adjusted accordingly.  At  the same  time,  the  normative 
capital remuneration rate has been adjusted  for a neutral combined effect  on 
the businesses' historic revenues.

3- For  the calculation  of earnings  per  share, "Group  net income  for  the 
period" is corrected (reduced  in the case  of a profit  and increased in  the 
case of a loss) for interest, net of tax impact, to be paid to holders of:
(i)     deeply subordinated notes (EUR -65 million in respect of Q3 13 and
EUR -190 million for    9M 13),
(ii)      undated  subordinated notes recognised  as shareholders'  equity 
(EUR -14 million in respect of Q3 13 and EUR -43 million for 9M 13).

Earnings per share is therefore calculated as the ratio of corrected Group net
income for the period  to the average number  of ordinary shares  outstanding, 
excluding own shares and treasury shares but including (a) trading shares held
by the Group and (b) shares held under the liquidity contract.

4- Net  assets are  comprised  of Group  shareholders' equity,  excluding  (i) 
deeply subordinated notes
(EUR 5.3 billion),  undated subordinated notes  previously recognised as  debt 
(EUR 1.5 billion) and (ii) interest payable to holders of deeply  subordinated 
notes and  undated  subordinated notes,  but  reinstating the  book  value  of 
trading shares held by the Group and shares held under the liquidity contract.
Tangible net assets are corrected for net goodwill in the assets and  goodwill 
under the equity method. In  order to calculate Net  Asset Value Per Share  or 
Tangible Net Asset  Value Per Share,  the number of  shares used to  calculate 
book value per share is the number  of shares issued at September 30th,  2013, 
excluding own shares and treasury shares but including (a) trading shares held
by the Group and (b) shares held under the liquidity contract.

5- The Societe  Generale Group's  Core Tier  1 capital  is defined  as Tier  1 
capital minus the outstandings of hybrid instruments eligible for Tier 1 and a
share of Basel 2 deductions. This share corresponds to the ratio between  core 
Tier 1 capital excluding  hybrid instruments eligible for  Tier 1 capital  and 
Core Tier 1 capital.
As from December 31st, 2011, Core Tier 1 capital is defined as Basel 2 Tier  1 
capital minus Tier 1 eligible hybrid capital and after application of the Tier
1 deductions provided for by the Regulations.

6- The  Group's ROTE  is calculated  on the  basis of  tangible capital,  i.e. 
excluding cumulative average book capital (Group share), average net  goodwill 
in the assets  and underlying  average goodwill relating  to shareholdings  in 
companies accounted for by the equity method. The net income used to calculate
ROTE is based on Group net income  excluding interest, interest net of tax  on 
deeply subordinated notes for  the period (including  issuance fees paid,  for 
the period, to external parties and  the discount charge related to the  issue 
premium  for  deeply  subordinated  notes  and  the  redemption  premium   for 
government deeply  subordinated notes)  and  interest net  of tax  on  undated 
subordinated notes recognised as shareholders'  equity for the current  period 
(including issuance fees  paid, for the  period, to external  parties and  the 
discount charge related to the issue premium for undated subordinated notes).

7- Funded balance sheet, loan/deposit ratio, liquidity reserve

The funded balance sheet gives a  representation of the Group's balance  sheet 
excluding  the  contribution  of  insurance  subsidiaries  and  after  netting 
derivatives, repurchase  agreements  and accruals.  It  has been  restated  to 
include: a) the reclassification  under "repurchase agreements and  securities 
lending/borrowing"  of  securities  and  assets  delivered  under   repurchase 
agreements  to  clients,  previously  classified  under  "customer   deposits" 
(excluding outstandings with the counterparty SG Euro CT amounting to EUR  3.0 
billion in Q3 13); b) a line by line restatement, in the funded balance sheet,
of the assets and liabilities of insurance subsidiaries; c) the  reintegration 
in their  original lines  of  financial assets  reclassified under  loans  and 
receivables in  2008  in accordance  with  the conditions  stipulated  by  the 
amendments toIAS 39; d)  the reintegration within  "long-term assets" of  the 
operating lease fixed  assets of specialised  financing companies,  previously 
classified under "customer loans".

Note that a loan  to the ECB,  in the funded  balance sheet, was  declassified 
from interbank assets  and appears  as a central  bank cash  deposit since  it 
involves a very short  period and is considered  economically as central  bank 
cash. The amount of the loan  was EUR 14 billion at the  end of Q1 13, EUR  12 
billion at the end of Q2 13 and EUR 6 billion at the end of Q3 13.

The Group's loan/deposit  ratio is  calculated as the  ratio between  customer 
loans and customer deposits defined accordingly.

The liquid asset buffer  or liquidity reserve amounted  to EUR 137 billion  at 
the end of Q3 13. It consisted of EUR 58 billion of net central bank  deposits 
and EUR  79  billion  of  central bank  eligible  assets  (available,  net  of 
discount), made up primarily  of so-called"HQLA"assets (High Quality  Liquid 
Assets) eligible for  the liquidity coverage  ratio (LCR). All  in all,  these 
assets represented 129% of short-term outstandings (unsecured short-term  debt 
and interbank liabilities).  At September  30th,2012, the  total liquid  asset 
buffer was  EUR  142  billion  (EUR  133  billion  at  December  31st,  2012), 
representing EUR  73 billion  of  central bank  deposits  (EUR 65  billion  at 
December 31st, 2012) and EUR 69 billion of eligible assets, net of discount
(EUR 68 billion at December 31st, 2012). All in all, these assets  represented 
100% of short-term outstandings (and 101% at December 31st, 2012).
The Group also possessed EUR 31 billion of rapidly tradable assets (vs. EUR 14
billion at September 30th, 2012, and EUR 18 billion at December 31st, 2012).

8 - Non-economic and non-recurring items and legacy assets

Non-economic items correspond to the revaluation of own financial liabilities.
Details of these items, and other items that are restated, are given below for
Q3 13, Q3 12, 9M 13 and 9M 12.

                        Net                                Group
               Q3 13  banking  Operating          Cost of   net
                      income   expenses   Others   risk    income
                                                                   Corporate &
Legacy assets          61       (22)              (154)    (82)   Investment
                                                                   Banking
Revaluation of own                                                 Corporate
financial              (223)                               (146)   Centre
liabilities
Provision for                                      (200)   (200)   Corporate
disputes                                                           Centre
Accounting impact of                                               Corporate &
CVA / DVA               (8)                                 (6)    Investment
                                                                   Banking
Impairment & capital                       (8)              (8)    Corporate
losses                                                             Centre
TOTAL                  (170)                               (442)   Group

                           Net                       Cost  Group
                  Q3 12  banking  Operating           of    net
                         income   expenses   Others  risk  income
                                                                   Corporate &
Legacy assets            (94)      (11)             (14)   (82)   Investment
                                                                   Banking
SG CIB core                                                        Corporate &
deleveraging              (84)                              (58)   Investment
                                                                   Banking
Revaluation of own        (594)                            (389)   Corporate
financial liabilities                                              Centre
TCW impairment &                              (92)          (92)   Corporate
capital losses                                                     Centre
Geniki impairment &                          (380)         (130)   Corporate
capital losses                                                     Centre
Other impairment &                            (13)          (13)   Corporate
capital losses                                                     Centre
TOTAL                     (772)                            (764)   Group

                         Net                       Cost    Group
                9M 13  banking  Operating           of      net
                       income   expenses   Others  risk   income
                                                                   Corporate &
Legacy assets           135      (52)             (320)   (169)   Investment
                                                                   Banking
Revaluation of own     (1,215)                             (797)   Corporate
financial liabilities                                              Centre
Capital gain on NSGB                        417             377    Corporate
disposal                                                           Centre
Adjustment on TCW                            24             21     Corporate
disposal                                                           Centre
Provision for                                      (400)   (400)   Corporate
disputes                                                           Centre
Accounting impact of                                               Corporate &
CVA / DVA               (178)                              (126)   Investment
                                                                   Banking
Capital gain on                                                    Corporate
Piraeus stake            33                                 21     Centre
disposal
Impairment & capital                        (8)             (8)    Corporate
losses                                                             Centre
TOTAL                  (1,225)                            (1,081)  Group

                  Net                       Cost    Group
         9M 12  banking  Operating           of      net
                income   expenses   Others  risk   income
Legacy assets   (263)     (39)             (167)   (324)   Corporate &
                                                            Investment Banking
SG CIB core      (469)                              (324)   Corporate &
deleveraging                                                Investment Banking
Revaluation of
own financial    (569)                              (373)   Corporate Centre
liabilities
Greek
sovereign                                   (23)    (16)    Corporate Centre
exposure
Buy Back Tier     305                                195    Corporate Centre
2 debt
Impairment &                        (511)           (261)   Corporate Centre
capital losses
                                                            Private Banking,
Impairment &                        (200)           (200)   Global Investment
capital losses                                              Management and
                                                            Services
Impairment &                        (250)           (250)   International
capital losses                                              retail banking
TOTAL            (996)                             (1,553)  Group

NB (1) The  sum of  values contained  in the  tables and  analyses may  differ 
slightly from the total reported due to rounding rules.

(2) All the information on the results for the period (notably: press release,
downloadable data, presentation slides and appendices) is available on Societe
Generale's website www.societegenerale.com in the "Investor" section.

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  154,000 employees, based  in 76 countries,  it accompanies  32 
million clients throughout the world on a daily basis. It offers a wide  range 
of advice and tailor-made financial  solutions to individuals, businesses  and 
institutional investors, based on three complementary business divisions:

  *Retail banking in France with the Societe Generale branch network,  Credit 
    du Nord and  Boursorama, offering  a comprehensive  range of  multichannel 
    financial services on the leading edge of digital innovation; 

  *International retail  banking, financial  services  and insurance  with  a 
    presence in emerging 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 sustainable development indices:  Dow 
Jones Sustainability Index (Europe), FSTE4Good (Global and Europe) and all the
STOXX ESG Leaders indices.

For more information, you can follow us on twitter @societegenerale or visit
our website www.societegenerale.com.

(1) Non-economic items, non-recurring items and legacy assets: EUR -170
million in net banking income in Q3 13 (including the revaluation of own
financial liabilities for EUR -223 million, legacy assets for EUR +61
million); in operating expenses: EUR -22 million in Q3 13 (legacy assets); net
cost of risk in Q3 13: EUR -354 million, including a collective provision for
litigation issues EUR -200 million and legacy assets EUR -154 million. In 9M
13, total in net banking income: EUR -1,225 million (including EUR -1,215
million for the revaluation of own financial liabilities); operating expenses:
EUR -52 million for legacy assets; EUR +433 million in respect of disposals
or write-downs related to subsidiaries or shareholdings (including NSGB EUR
+417 million and TCW EUR +24 million); net cost of risk EUR -720 million,
including collective provisions for litigation issues EUR -400 million and
legacy assets EUR -320 million. Details and 2012 data in methodology note No.
8. 
(2) Annualised, excluding litigation issues and legacy assets, in respect of
assets at the beginning of the period.
(1) Pro-forma fully loaded Basel 3 Core Tier 1 ratio, based on our
understanding of the CRR/CRD4 rules published  on June 26th, 2013, including
the Danish compromise. Basel 2.5 Core Tier 1 ratio calculated according to EBA
Basel 2.5 standards (Basel 2 standards incorporating CRD3 requirements)
(2) It was 10.3% in Q3 12.

(1) Calculation that disregards the currency impact of the cost savings plan
(2) Annualised, excluding litigation issues and legacy assets, in respect of
assets at the beginning of the period.

(1)    See methodology note No. 8.
(2)     The  interest, net  of tax effect,  payable to  holders of  deeply 
subordinated notes and undated subordinated notes amounts to respectively  EUR 
-65 million and EUR -14  million for Q3 13 and  EUR -190 million and EUR  -43 
million for 9M 13.
(1) This figure includes  notably (i) EUR 5.3  billion of deeply  subordinated 
notes and (ii) EUR 1.5 billion of undated subordinated notes
(2) As at October 28th, 2013
(3) It was 10.3% at September 30th, 2012
(4) Basel 3 Core Tier 1 ratio  and leverage ratio calculated according to  our 
understanding of the  CRR/CRD4 rules   published  on June  26th, 2013.  Fully 
loaded Core Tier 1, including the Danish compromise.
(1) Notably the  allocation of  the systemic tax  to the  businesses from  the 
beginning of 2013. It was only allocated to them in Q4 12 last year. If 75% of
the tax allocated at the  end of the year is  included in 9M 12 expenses  (EUR 
35.5 million), the French Networks' operating expenses are down -0.2% in total
for the first 9 months.
[1]^(^) At end-2012, the entities BelRosbank (Byelorussia) and AVD, Rosbank's
debt recovery subsidiary, were sold as part of the Group's refocusing
[2]^(^)       SG Russia's result:  contribution of  Rosbank, Delta  Credit 
Bank, Rusfinance Bank,  Societe Generale Insurance,  ALD automotive and  their 
consolidated subsidiaries to the businesses' results.

(^1) At constant structure
(1) Fair value adjustment in respect of credit risk following the
implementation of IFRS 13
(2) In 2012 and 2013, SAREB issued a total of EUR 50 billion of floating-rate
bonds. In order to reduce the uncertainty related to the medium/long-term
interest rate trend and in order to reduce its financial costs, the Board of
Directors opted to hedge EUR 42 billion via an interest rate swap
(1) As at October 24th, 2013
(1) Exclusive negotiations initiated for the acquisition of 50% of Newedge
and the disposal of 5% of Amundi on November 7th, 2013
(
(2) Excluding non-recurring income resulting from a EUR 17 million provision
write-back in Q3 12.

Societe Generale_ Q3-2013

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