SocGen revenue jumps 18% to €6.3B in Q2

Tuesday, 03. August 2021 06:53

Societe Generale said on Tuesday its revenue in the second quarter of 2021 amounted to €6.3 billion, rising 18% year on year and beating estimates.

The French lender's net income stood at €1.4 billion, improving from a net loss of €1.3 billion reported a year earlier. Operating income soared from €157 million in the second quarter last year to €2 billion.

"Once again, Societe Generale enjoyed an excellent quarter, with a solid commercial and financial performance by all its businesses. Q2 was marked by the strong revenue momentum, continued cost discipline and a very low cost of risk resulting from very few loan defaults," CEO Frederic Oudea stated.

Related Links: Société Générale S.A.
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Breaking the News / NP