French Financial services major Societe Generale reported Friday weak profit in its third quarter, despite higher revenues amid increasingly complex geopolitical and economic environment. In Paris, the shares were gaining around 5 percent.
Fréderic Oudéa, the Chief Executive Officer, said, "The third quarter is marked by increasing revenues, continued control of operating expenses and a contained cost of risk, while maintaining a prudent provisioning policy... The coming months will enable us to continue to implement the strategic initiatives underway, which would ensure sustainable growth and profitability..."
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.