Societe Generale 3Q Profit Fell on Year
November 06 2019 - 1:23AM
Dow Jones News
By Pietro Lombardi
Societe Generale SA's (GLE.FR) third-quarter net profit and
revenue fell, while the bank strengthened its capital.
France's third-largest listed bank by assets had net profit of
854 million euros ($948.1 million) for the period, compared with
EUR1.31 billion a year earlier, it said Wednesday.
Net banking income, the bank's top-line revenue figure, fell
8.4% to EUR5.98 billion.
The bank's core Tier 1 ratio, a key measure of capital strength,
rose to 12.5% in September from 12% at the end of June.
The bank said it has reached its target of cutting EUR10 billion
in risk-weighted assets at its global banking and investor
solutions business.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 06, 2019 01:08 ET (06:08 GMT)
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