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Societe Generale Q4 Profit Down 82.3% - Quick Facts

French lender Societe Generale SA (SCGLF.PK,SCGLY.PK) reported that its Group net income for the fourth quarter fell 82.3 percent to 69 million euros from last year's 390 million euros. Earnings per share declined to 2.92 euros from 4.26 euros last year.

The latest quarter's results include an exceptional expense of 416 million euros, reflecting the impact of tax reforms in France and the U.S.

Excluding non-economic items, Group net income was 3 million euros, compared to 421 million euros a year ago. Earnings per share were 2.98 euros, compared to 4.55 euros in the prior year.

Underlying net income was 877 million euros, down from 1.16 billion euros last year.

Operating income for the quarter fell 33.3 percent to 830 million euros from 1.25 billion euros in the year-ago period. Operating income, excluding non-economic items, declined 43.2 percent to 735 million euros from 1.29 billion euros last year.

However, net banking income for the quarter rose 3.2 percent to 6.32 billion euros from 6.13 billion euros last year. Excluding non-economic items, it rose 0.8 percent to 6.23 billion euros.

The company's board of directors has decided to propose the payment of a 2017 dividend of 2.20 euros per share to the general meeting of shareholders. This will be detached on May 30th, 2018 and paid on June 1st, 2018.

by RTTNews Staff Writer

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