Societe Generale Strengthens Capital as Net Profit Falls
01 August 2019 - 3:24PM
Dow Jones News
By Pietro Lombardi
Societe Generale SA (GLE.FR) strengthened its capital in the
second quarter while reporting a fall in net profit for the
period.
Quarterly net profit at France's third-largest listed bank by
assets was 1.05 billion euros ($1.16 billion), compared with
EUR1.22 billion a year earlier.
Net banking income, the bank's top-line revenue figure, fell
2.6% on the year to EUR6.28 billion.
The bank's core Tier 1 ratio, a key measure of capital strength,
rose to 12% at the end of June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
August 01, 2019 01:09 ET (05:09 GMT)
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