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SocGen enjoys record Q2 profit as retail bank beats weak trading
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The Business Times
Group net income rises 23% to a record 1.79 billion euros that reaches forecastsRevenues also came in ahead of expectations, up 4.5% to 7.1 billion euros, with lower-than-anticipated costs.
Revenues also came in ahead of expectations, up 4.5 per cent to 7.1 billion euros, with lower-than-anticipated costs.
Unlike BNP, Barclays, UBS and Deutsche Bank, which all posted strong gains, SocGen’s trading arm disappointed.
This is the third quarter in a row in which SocGen has reported falling year-on-year revenue from its trading business.
BoursoBank, SocGen’s online bank, contributed 84 million euros to group profit, on track for its 2026 target of more than 300 million euros.