Société Générale Société anonyme (GLE.VI)
- Reuters
SocGen Q1 profit slumps less than expected as investment bank surprises
PARIS (Reuters) -French bank Societe Generale's net income fell less than expected in the first quarter, as profits on equity derivative sales offset weaknesses at its retail bank and in fixed-income trading. France's third-biggest listed lender, whose CEO Slawomir Krupa is seeking to end several years of lacklustre performance and trim costs, said group net income over the first three months of the year was 680 million euros ($729.30 million). "The CIB (corporate and investment bank) was the driver of revenue surprise," Jefferies said in a note to clients, also pointing out the steep rise in provisions in France, which SocGen attributed to "specific market files" in its statement.
- GlobeNewswire
Societe Generale: First quarter 2024 earnings
RESULTS AT 31 MARCH 2024 Press release Paris, 3 May 2024 QUARTERLY RESULTS Quarterly revenues of EUR 6.6 billion, stable vs. Q1 23 (-0.4%), driven by very good performances of Global Banking and Investor Solutions, Private Banking and International Retail Banking, an increase in revenues and net interest income in France compared with Q4 23, despite a shift from sight deposits to remunerated savings, and a stabilisation of margins as well as the normalisation of used car sales’ results at Ayvens
- The Telegraph
I demand justice for all traders, says banker sacked by SocGen for risky bets
A banker fired for making a string of risky stock market bets has called for “trader justice” as he claimed that he and his colleagues were scapegoated.
