SocGen profit tops forecast but France lags - 04 noiembrie 2022

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Societe Generale

, France’s third-biggest listed bank, joined European rivals in posting a higher than expected net income in the third quarter as market volatility boosted trading revenues.

SocGen, which has appointed the head of its investment banking division as its new CEO from May 2023, said net income had come in at 1.5 billion euros ($1.46 billion)- well above a Refinitiv consensus forecast of 1 billion euros.

The beat was driven by a 12% increase in Global Markets revenues, led by thriving trading in fixed income and currencies. This helped offset a decline in deal-making and share sales which weighed on investment banking.

(FR.GLE)


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