SocGen posts Q2 revenue at €6.28B, down 2.6% YoY

Thursday, 01. August 2019 07:02

Societe Generale SA reported on Thursday its second quarter revenue stood at €6.28 billion, marking a 2.1% drop compared to the same period of last year and slightly higher than market analysts' expectations. The French bank's reported net income stood at €1.05 billion, falling 13.9% on a yearly basis. Operating income amounted to €1.7 billion, marking a 9.6% decline compared to the second fiscal period of 2018.

For the first half of the fiscal 2019, revenue was €12.47 billion, while reported net income amounted to €1.74 billion, dropping 18.2% year-on-year. Operating income fell 12.4% to €2.84 billion.

"Societe Generale has provided further evidence of the successful execution of its strategic plan with two priority financial objectives: increasing its level of capital and improving profitability. In particular, weachieved our Core Equity Tier 1 target of 12% in H1 19," said the group's CEO Frederic Oudea.

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