SocGen posts revenue of €6.8 billion in Q3

Friday, 04. November 2022 06:37

Societe Generale SA announced on Wednesday that its revenue stood at €6.8 billion in the third quarter of 2022, rising by 2% year-on-year.

Reported group net income fell 6% year on year to €1.5 billion and operating income slid 7% to €2.1 billion. The return on tangible equity (ROTE) was 11.2%.

"In an increasingly complex geopolitical and economic environment, Societe Generale posts, once again, excellent results, with both a very solid commercial performance and profitability. The third quarter is marked by increasing revenues, continued control of operating expenses and a contained cost of risk, while maintaining a prudent provisioning policy," CEO Frederic Oudea stated.

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