SocGen Deputy CEO Cabannes on Trading Loss, Cost Reduction Plan

The transcript discusses the performance and rebound of equities, the impact of COVID-19 on loan losses and credit risk, and the record quarter for fixed income and investment banking at Societe Generale. It also covers adjustments in the trading business to reduce sensitivity to market dislocation, ECB's dividend policy, cost-cutting measures, and the impact of the crisis on the French economy and retail banking.

What was the main reason for the positive bottom line in the recent quarter?

• Increase in cash flow

• Reduction in non-cash items

• Improved equity performance

• Decrease in operational costs

How did Societe Generale's fixed income activity perform in the recent quarter?

• It was below expectations

• It remained stable

• It had a record performance

• It was negatively impacted

What strategy is Societe Generale implementing to reduce sensitivity to market dislocation?

• Expanding into new markets

• Reducing workforce

• Adjusting product mix

• Increasing equity exposure

What is the expected impact on revenue due to the new product mix in the trading business?

• 5% decrease

• 10% decrease

• 10% increase

• 5% increase

What was a significant activity in the French retail bank during the crisis?

• Decrease in client transactions

• Increase in state-granted loans

• Decrease in loan production

• Increase in service fees

How did the crisis impact service fees in the French retail bank?

• Service fees increased

• Service fees decreased

• Service fees were unaffected

• Service fees remained stable

What was the impact of negative interest rates on the bank's P&L?

• Negative impact

• Neutral impact

• No impact

• Positive impact