French lender Societe Generale SA (SCGLY.PK,SCGLF.PK) announced a plunge in first-quarter reported Group net income to 364 million euros, from last year's 732 million euros. Group net income includes the results for the Group's businesses of 1.09 billion euros and 377 million euros of disposal proceeds for the Egyptian unit NSGB. Excluding non-economic items, legacy assets, and non-recurring items, quarterly Group net income stood at 852 million euros.
Earnings per share amounted to 0.38 euros for the period, after deducting interest payable to holders of deeply subordinated notes and undated subordinated notes.
Net banking income totaled 5.09 billion euros in the quarter, lower than 6.31 billion euros in the earlier year quarter. If non-economic items, non-recurring items and legacy assets are stripped out, revenues were 6.22 billion euros, down by 8.6% year-over-year on a like-for-like basis.
In addition, the company plans additional 900 million euros cost-savings in order to achieve a ROE of 10% by end-2015.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.