法国兴业银行(ADR) 2025年度报告

2026 ANNUAL FINANCIAL REPORT 2025 T A B L E O F C O N T E N T S 1KEY FIGURES AND PRESENTATION OFTHE SOCIETE GENERALE GROUP 5CORPORATE SOCIAL RESPONSIBILITY263 1.1History91.2Presentation of Societe Generale101.3A clear strategy for a sustainable future121.4SG’s core businesses19 5.1Sustainability statement2655.2Duty of care plan393 FINANCIAL INFORMATION 2GROUP MANAGEMENT REPORT29 6.1Consolidated financial statements4126.2Notes to the consolidated financialstatements4196.3Statutory auditors' report on the consolidatedfinancial statements6046.4Societe Generale's management report6126.5Financial statement6206.6Notes to the parent company financialstatements6226.7Statutory auditors' report on the financialstatements671 2.1The SG Group’s main activities302.2Group activities and financial results322.3Activities and performance of core businesses342.4Major new products and services462.5Analysis of the consolidated balance sheet502.6Financial policy532.7Major investments and disposals562.8Pending acquisitions and major contracts582.9Property and equipment582.10Post-closing events592.11Statement on post-closing events592.12Information on geographic locationsand activities as of 31 December 202560 7SHARE, SHARE CAPITAL AND LEGALINFORMATION 7.1The Societe Generale share678 7.3Additional information686 3CORPORATEGOVERNANCE 7.4Company By-laws689 8PERSON RESPONSIBLE FOR THEUNIVERSAL REGISTRATIONDOCUMENT695 3.1Board of Directors’ reporton corporate governance643.2Statutory auditors’ special report onregulated agreements1363.3Internal rules of the Board of Directors ofSociété Générale137 8.1Person responsible for the universalregistration document6968.2Statement made by the person responsible forthe Universal registration document andAnnual financial report6968.3Auditors statutory auditors696 RISK AND CAPITAL ADEQUACY Key figures1584.1Risk factors by category1594.2Risk management organisation1734.3internal controls1804.4Capital management and adequacy1854.5Credit risk1994.6Counterparty credit risk2154.7Market risk2244.8Structural risks – interest rate and exchangerate2364.9Structural risk – liquidity risk2404.10Operational risk2474.11Non Compliance risk and legal risk2544.12Model risk2584.13Environmental, social and governance (ESG)risks2594.14Other risks260 CROSS-REFERENCE TABLES 9.1Cross-references tables6989.2Statement made by the Issuer702 10GLOSSARY Glossary of Corporate social responsibility(CSR) terms704Glossary of key technical terms708 ABBREVIATIONS USED: U N I V E R S A LR E G I S T R A T I O ND O C U M E N T 2026 ANNUAL FINANCIAL REPORT 2025 This Universal Registration Document was filed on 13 March 2026 with the AMF,as competent authority under Regulation (EU) 2017/1129, without prior approvalpursuant to Article 9 of the said regulation. The Universal Registration Document may be used for the purposes of an offer tothe public of securities or admission of securities to trading on a regulatedmarket if completed by a securities note and, if applicable, a summary and anyamendments to the Universal Registration Document. The whole is approved bythe AMF in accordance with Regulation (EU) 2017/1129. This document is a translation into English of the Annual Financial Report/Universal Registration Document of the Company issued in French andis available on the website of the Issuer. The Universal Registration Document is a copy of the official version of the Universal Registration Document which has been prepared in XHTMLformat and is available on the Issuer’s website. MESSAGE from the Chairman of the Board of Directors Ina 2025 marked by a complex and uncertainenvironment, Societe Generale Group reached a decisivemilestonein its transformation,resulting from therigorous implementation of the strategic plan approvedby the Board of Directors in 2023. Under the leadership of the management team headedby Slawomir Krupa, major progress has been achievedin three key areas: the sustainable strengthening of thecapitalbase;the improvement of efficiency andprofitability; and the ongoing growth of the Group’sbusiness model, now refocused on its core activities. In 2025, the Group delivered record revenues and netincome, combining strong growth across all businesseswith strict cost and risk management. All annual financialtargets were exceeded. Buildingon these results,shareholder returns weresignificantly increased. The Group also continued toactivelycontribute to the environmental and socialtransition and made progress in decarbonising its lendingportfolios, achieving early advances toward its targets inthe highest-emitting sectors. LorenzoBini Smaghi The continued improvement in the Group’s performanceresulted in a sharp revaluation of its share price, whichmore than doubled in 2025 (+153%) and has tripled sinceMay 2023. Chairman of the Boardof Directors In 2026, the Group will finalise the execution of itsstrategicplan,having raised its ROTE profitabilitytarget,now expected to exceed 1