BofA: SocGen to Post Robust Q3 Results Amid Improving French Retail Net Interest Income

08:15 AM EDT, 10/19/2026 (MT Newswires) -- BofA Global Research expects Société Générale (GLE.PA) to report robust third-quarter results on Oct. 29, bolstered by sustained net interest income improvement in its French retail operations. The research firm forecasts a net income attributable to equity shareholders of 1.49 billion euros for the quarter, up 8% year over year, according to an earnings preview note focused on French banks. Net banking income is also projected to rise 3% to 6.86 billion euros. "We expect strong 3Q26 results, confirming the profitability inflection in French retail despite higher ECB rates (NII: margins/volumes, cost savings) and auto leasing (net margins, cost synergies), while CIB should stay robust on its leading Equity Derivatives franchise. International retail profitability (Czech Republic, Romania) should remain resilient. Crucially, 3Q26 gives management another chance to evidence progress converging its two French retail networks via clear milestones and delivered efficiencies," analysts said. "Such proof is key to credibility for the conservative operating leverage plan from the 21 Sept CMD, still unrewarded by investors." BofA retained the stock's buy rating and price objective of 95 euros, noting that SocGen is its key pick in France and part of its "25 stocks for 2026" list.