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HomeMarketSocGen net income tops forecasts in third quarter By Reuters

SocGen net income tops forecasts in third quarter By Reuters

© Reuters. FILE PHOTO: The logo of Societe Generale Private Banking is seen at an office building in Zurich, Switzerland March 25, 2022. Picture taken March 25, 2022. REUTERS/Arnd Wiegmann
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PARIS (Reuters) – Societe Generale (OTC:), 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 next CEO from May 2023, said net income had come in at 1.5 billion euros ($1.47 billion) – well above a Refinitiv consensus forecast of 1 billion euros.

($1 = 1.0221 euros)

Story Credit: investing.com

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