SocGen posts revenue of €5.9B in Q4

Thursday, 07. February 2019 07:00

Societe Generale SA reported on Thursday its revenue for the fourth quarter of fiscal 2018 stood at €5.9 billion, marking a 6.3% decline compared to the same period a year ago. The bank's net income in the last three months of 2018 stood at €624 million, surging from €69 million from the fourth quarter of the previous year. Operating income jumped 33.3% to €1.1 billion.

For the full-year 2018, the French bank's revenue amounted to €25.2 billion, up by 5.2% year on year. Net income soared 37.7% from 2017 to €3.9 billion, while operating income in the twelve-month period stood at €6.3 billion, up by 31.5% from the previous year.

"We successfully achieved several major milestones in our transformation during 2018. The digital transformation process continued with success and there was considerable progress in the growth initiatives in French and International Retail Banking, as well as Financing & Advisory. However, market activities experienced a more mixed performance, below our expectations," CEO Frederic Oudea said.

Related Links: Société Générale S.A.
Author:
Baha Breaking News (BBN) / NP