Societe Generale Q2 Earnings: Profit More Than Doubles

Mani

Published onAugust 1, 2013

Updated on May 13, 2021

France’s Societe Generale SA (OTCMKTS:SCGLY) (EPA:GLE)’s second quarter net profit more than doubled aided by strong investment banking business.

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France’s second largest bank’s net profit doubled to €955 million ($1.27 billion) in the quarter ended June, up from €436 million in the year ago period, beating analysts’ estimates of €608 million.

Confident of 10 percent ROE

The strong results enthused the bank to project a return on equity of 10 percent by the end of 2015.

France’s third-largest listed bank by assets reported a...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Societe Generale Q2 Earnings: Profit More Than Doubles

Confident of 10 percent ROE

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