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: June 18, 2018
UAE. 24% of Middle Eastern entrepreneurs are motivated by social impact and view it as their top priority as a business owner; 66% are undertaking angel investing.
date:Posted: June 16, 2018
UAE. MENA region recorded 93 deals amounting to US$15.4b in Q1 2018; UAE records highest announced Q1 deal value in the region at US$5.1b; Oil & gas deal value reached US$7.2b in Q1 2018; Almost 80% of MENA boards focused on portfolio transformation.
date:Posted: June 14, 2018
UAE. McAfee report sounds industry alarm: Don't start the blockchain revolution without making security a top priority.
dhgate