Societe Generale turns to profit in Q1 on strong net banking income

Societe Generale
Societe Generale Crédits : Shutterstock.

Societe Generale SA (SCGLF.PK, SCGLY.PK) reported Thursday that its first-quarter Group net income was 814 million euros (979 million dollars), compared to last year’s loss of 326 million euros.

Underlying group net income was 1.30 billion euros, compared to prior year’s 98 million euros.

Operating income for the quarter was 1.22 billion euros, while last year’s loss was 328 million euros.

Net banking income climbed 20.8 percent to 6.25 billion euros from 5.17 billion euros a year ago, with a good performance in all the businesses particularly in global markets, financial services and financing & advisory.

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