Société Générale (SocGen), has reported a
fiscal 2011 full year net profit of €2.38bn ($3.09bn), down 39.1%
from the year ago period (2010: €3.91bn).

According to SocGen,
Greek sovereign debt losses, write-down of goodwill and
restructuring provisions impacted the bank’s group net income by
around $900m.

SocGen’s retail banking
performance was altogether more positive.

Taken together, French
retail and the international retail banking unit of SocGen
accounted for over 60% of group earnings in 2011.

The France-based retail
unit of SocGen posted a net profit of €1.43bn for the 12 months to
31 December, up 16.8% year-on-year.

Total France-based
retail banking customers grew by 2.3% (or a net 243,000 clients) to

Retail deposits in
France grew by 8.7% in 2011 (boosted by an increase of 11.2% in
regulated savings schemes).

SocGen’s investment in
digital channels was reflected in strong demand for its iPhone/iPad
applications, with 1m downloads during 2011.

In-branch digital
investment resulted in around 1m customers using SocGen’s instant
feedback iPad terminals in the branch.

SocGen’s international
retail banking unit recorded net profit of €325m, down 34% from
2010 (€492m).

The majority of the
units profit was generated by a strong performance in the Czech
Republic: net profit increased by 4.8% to €262m at SocGen’s
Komercni Banka subsidiary.

In the Mediterranean
basin & Sub-Saharan Africa, SocGen’s branch investment
programme resulted in 112 branch openings in 2011.

Profit slipped back by
13% in the Mediterranean basin to €220m; in Sub-Saharan Africa,
retail net income increased by 10.8% to 133m.

Group wide, SocGen’s
total assets increased by 4% in fiscal 2011 to €1.18trn.