French bank Societe Generale profit falls 20%
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Thu May 3, 2012 4:50 pm

INTERNATIONAL. French bank Societe Generale reported on Thursday a 20.1% drop in quarterly net profit to 732 million euros (US$963 million) owing to a 119-million-euro charge for risky debt.

But the outcome was higher than expected by analysts polled by Dow Jones Newswires who had forecast on average a figure of 630 million euros.

The bank said that in the first quarter, net banking income, a key measure of the difference between the cost of attracting deposits and the price of lending them, was 6.3 billion euros.

This amounted to a fall of 4.3 percent from the equivalent figure last year but was a 5.0-percent rise on the figure for the last quarter of last year.

The bank's shares jumped more than 4 percent at the opening of trading, but fell back to a gain of 2.0 percent at 18.38 euros at 0740 GMT.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 26, 2016
UAE. According to The Boston Consulting Group, today, 7% of all FinTech companies in the Middle East and Africa are concentrated in the GCC.
date:Posted: September 22, 2016
INTERNATIONAL. The switch to renewable energy has already been flicked. Smart utilities willing to drive change will prosper - but it's going to take the turning off of a lot of old paradigms to do so.
date:Posted: September 21, 2016
QATAR. QNB Group publishes its Qatar Economic Insight September 2016 report; The report examines the outlook for the Qatari economy as it continues its strong growth based on non-hydrocarbon investment spending.
dhgate
cheap wedding dresses on Ca-Dress.com