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[ Tue, Apr 29th ]: Patch
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SocGen beats Q1 forecasts after retail rebound and equities boom


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  Print publication without navigation Published in Business and Finance on by Reuters

French bank Societe Generale reported stronger-than-expected first-quarter earnings on Wednesday, propelled by a continued rebound in retail banking and a jump in equities trading amid volatile financial markets.

Societe Generale, France's third-largest listed bank, reported a first-quarter net income of 680 million euros, surpassing analyst expectations of 579 million euros, driven by a strong performance in its French retail banking and a boom in its equities trading business. The bank's French retail division saw a 17.5% increase in net interest income to 789 million euros, while the equities trading unit reported a 14% rise in revenues to 1.1 billion euros. However, the bank's overall revenues fell by 4.4% to 6.6 billion euros, impacted by a decline in its corporate and investment banking division, excluding equities. Additionally, SocGen announced plans to cut costs by 1.7 billion euros by 2026, aiming to improve its operational efficiency amidst challenging market conditions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/socgen-beats-q1-forecasts-after-retail-rebound-equities-boom-2025-04-30/ ]

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