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..."
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