Transparency and dialogue: the pillars of the relationship between Societe Generale and its shareholders

On 8 October 2025, The Group’s boardroom in La Défense took on the atmosphere of a lively roundtable discussion with open dialogue, in-depth analysis and focused questions. The Shareholders Consultative Committee met with the General Management to exchange on key topics, demonstrating once again how the relationship between the Group and its individual shareholders is strengthened by openness, transparency and mutual listening.

Constructive and fruitful discussions

The meeting opened with a presentation of the Group’s strategic orientations by Pierre Palmieri, Deputy Chief Executive Officer. He outlined the Group’s strategy aimed at building a solid, efficient and profitable Bank. He also highlighted the ongoing efforts in simplification to strengthen the Bank’s economic model. “Our priority is to create sustainable value for our shareholders and all our stakeholders,” said Pierre Palmieri.

Patrick Suet, Chairman of the Shareholders Consultative Committee, highlighted the quality of the dialogue between the Committee and General Management over the years. “The Shareholders Consultative Committee is a bridge between the Group's management and individual shareholders. It plays a key role in facilitating dialogue that is both challenging and constructive.”

Pierre-Yves Pélissier, a Committee member, added: “These discussions are an invaluable opportunity to learn about recent events at Societe Generale, strengthening the dialogue between the Committee and General Management. It is a chance to exchange views on the communication policy and to fulfil our role as a proponent of ideas, in the spirit of mutual listening.”

Lastly, Leopoldo Alvear explained the balance between the strength of the model, risk management and the financial trajectory for the first half of the year. The Group Chief Financial Officer said: “These opportunities for dialogue help us better understand the expectations of individual investors and strengthen the educational dimension of our financial disclosures.”

Committee member Jean-Pierre Limousin commended a particularly clear announcement regarding the interim dividend: “Chief Financial Officer Leopoldo Alvear provided timely information about the principle of continuing to issue a half-year interim dividend. This reflects the bank’s confidence in its future earnings, maintains the trust of shareholders and represents a significant cash advance for them. Three positive takeaways from a single decision.”
 

Quality of the dialogue

Meetings of the Shareholders Consultative Committee consistently provide opportunities for dialoguebetween the Group and its individual shareholders. The October meeting offered further evidence of how members give shareholders a voice. Through their questions and discussions, they contribute to improving the Group’s reporting practices. They welcomed the clarity of the reference points, quantified objectives and key milestones and the informative approach to the presentation of results and risk management. Nils Beneton, a new Committee member, observed that: “The discussions we had at the Committee meeting on 8 October enabled us to look at each of the Group’s main businesses in more detail. They confirmed the solid progress that Societe Generale is making with its strategic plan.”

Committee member Claude Bertaix explained: “Our role is not to comment on day-to-day management, but to understand the strategic thinking, governance, ethics and core values of the Societe Generale group.”

This long-term relationship is founded on our shared ambition of fostering mutual understanding and trust. By addressing the real issues facing the business, Committee members act in the best interests of the shareholders they represent.

3 objectives: to convey shareholder expectations, to suggest improvements to communication materials, and to express opinions on financial reporting.

Over to you!

The Shareholders Consultative Committee helps the Group improve its financial reporting. Which topics would you like to see explored further? Which questions would you like to ask with the General Management?
We invite you to share your ideas and questions to help shape future editions of the Letter to Shareholders. These perpetuate the shareholder dialogue at the heart of our relationship built on trust.