News | Latest Breaking News Stories & Headlines

SocGen lifts annual targets after French retail rebounds

Societe Generale, France's third-largest listed bank, today raised its annual profit target after a strong rebound in its French retail business lifted second quarter results above expectations.

Business • 31 Jul

SocGen's group net income for the three months ending in December more than doubled from a year earlier to €1.04 billion

Societe Generale doubles its quarterly profit

Societe Generale said it had doubled its fourth-quarter profit thanks to a retail bank rebound and strong equity trading, allowing the French lender to announce shareholder payouts at the high end of expectations.

Business • 06 Feb

SocGen's net income over the first three months of the year was €680m - down 22% from a year earlier

SocGen's Q1 profit falls less than expected

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.

Business • 03 May 24

Societe Generale is France's third-biggest listed bank

SocGen's Q4 earnings slide but retail bank a bright spot

French bank Societe Generale has today reported a sharp drop in fourth-quarter net income, although the lender beat analyst expectations thanks to signs of recovery in its domestic retail business and stable investment bank trading revenue.

Business • 08 Feb 24

SocGen's quarterly sales miss estimates

Societe Generale, France's third-biggest listed bank, missed market expectations on quarterly sales today, as a slump of its French retail added to earnings woes in spite of the resilient performance of its investment bank division.

Business • 03 Nov 23

Slawomir Krupa, the new CEO of Societe Generale

SocGen's new CEO Krupa pledges to cut costs

Societe Generale's new CEO Slawomir Krupa pledged today to cut costs to boost profits by 2026 amid stagnating sales, in his first strategic plan for France's third-biggest listed bank.

Business • 18 Sep 23

SocGen said its group net income rose 5.7% from a year earlier to €868m for the three months ending in March

SocGen earnings beat estimates as bond trading shines

Société Générale, France's third-biggest listed bank, has posted better-than-expected quarterly earnings as turmoil in bond and currency markets boosted its trading business.

Business • 12 May 23

SocGen's profit tops forecast but French operations lag

Societe Generale, France's third-biggest listed bank, today joined European rivals in posting a higher than expected net income in the third quarter as market volatility boosted trading revenues.

Business • 04 Nov 22

SocGen recently said it would quit Russia and is now selling its Rosbank business in the country, writing off roughly €3.1 billion.

SocGen boosts income but costs of Ukraine war rise

French lender Société Générale has today beaten first-quarter earnings expectations but booked higher provisions for bad loans as its customers feel the economic impact resulting from the war in Ukraine.

Business • 05 May 22

SocGen agrees Rosbank sale as it prepares Russian exit

French bank Société Générale has agreed to sell its stake in Rosbank and the Russian lender's insurance subsidiaries, it said today.

Business • 11 Apr 22

Nike said it was 'deeply troubled by the devastating crisis in Ukraine'

Nike and IKEA close Russian stores as sanctions bite

Nike and home furnishings firm IKEA have shut down stores in Russia as trade restrictions and supply constraints added to political pressure for companies to stop business in Russia because of its invasion of Ukraine.

Business • 04 Mar 22

SocGen's $20 billion exposure to Russia is one of the largest among foreign lenders

SocGen fears confiscation of Russia assets

Societe Generale has today warned of the possibility that Russia could strip the bank of its local operations, in one of the starkest warnings yet from a Western company about the potential impact of the war in Ukraine.

Business • 03 Mar 22

France's third-largest listed lender said its net income nearly doubled in the reported quarter to €1.6 billion from €862m a year ago

France's SocGen beats third quarter estimates

French bank Societe Generale has posted higher third-quarter earnings, beating estimates, supported by strong revenue from corporate and investment banking and lower bad loans and also appointed a new financial chief.

Business • 04 Nov 21

SocGen has today posted a €814m net profit for the first quarter compared to a €326m loss a year ago

Rebound in trading boosts earnings at France's SocGen

Société Générale has today recorded a higher than expected first quarter profit as its equities unit rebounded from an earnings wipeout to post its best performance in six years.

Business • 06 May 21

Société Générale is the middle of revamping its markets business and exiting some areas

France's Société Générale lags rivals in debt trading

France's Société Générale has posted a drop in equity and fixed-income trading revenues in the fourth quarter, out of step with many rivals who profited from volatility during the Covid-19 pandemic.

Business • 10 Feb 21

Société Générale has announced plans to shut 600 branches in France by 2025

SocGen to shut 600 branches by merging retail networks

France's Société Générale said today it expected to shut 600 branches in France by 2025 with the merging of its two retail banking networks Societe Generale and Credit du Nord.

Business • 07 Dec 20

SocGen said its net income rose by 0.9% to €862m, while revenue fell 2.9% to €5.81 billion in the third quarter

Trading rebound helps France's SocGen return to profit

France's third-biggest listed bank Société Générale swung back to profit in the third quarter, as its equity trading business continued to recover from a weak start to the year.

Business • 05 Nov 20

Societe Generale is France's third-largest bank

France's SocGen plans to cut 1,600 jobs worldwide

Societe Generale, France's third-largest bank, today unveiled a plan to cut 1,600 jobs, mainly at its corporate and investment banking arm, in a bid to buoy profitability after last year's poor performance.

Business • 09 Apr 19

SocGen's CEO Frederic Oudea said the macroeconomic outlook has become more challenging for his bank

SocGen cuts targets after suffering market downturn hit

France's third largest listed bank Société Générale has cut its profitability target after a market downturn hit its investment and corporate banking unit during the fourth quarter.

Business • 07 Feb 19

Société Générale's chief executive Frederic Oudea

SocGen's Q3 profits rise faster than market expected

French bank Société Générale said its third quarter profits had beaten expectations with a 32% jump in earnings buoyed by a capital gain and higher overall revenues.

Business • 08 Nov 18

Fourth quarter net income at France's third-biggest bank fell to €69m from €390m a year earlier

SocGen's profit plunges but results top expectations

Societe Generale saw a plunge in quarterly profits as tax-related and restructuring costs weighed on the bank's earnings.

Business • 08 Feb 18

SocGen has reported a 15% fall in third-quarter net income to €932m

SocGen income hit by trading, raises litigation reserve

Societe Generale today missed third-quarter income forecasts and raised reserves for litigation costs by €300m, knocking the French bank's shares.

Business • 03 Nov 17

Former Société Générale trader Jerome Kerviel ordered to pay €1m in damages

French rogue trader ordered to pay SocGen €1m

Former Société Générale trader Jerome Kerviel is liable for only €1m of the €4.9 billion in losses he racked up at the bank, and not the whole amount, a French court has ruled.

Business • 23 Sep 16

Société Générale is France's second biggest listed bank

Société Générale unveils new cost cuts

Société Générale has pledged further cost cuts this year as it seeks to reassure investors that its diversified business could withstand a weak start to the year in investment banking.

Business • 04 May 16

French bank's headquarters were searched last week

Socgen's headquarters searched in Panama probe

French tax police searched Société Générale's headquarters last week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said.

Business • 11 Apr 16