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Nov. 6, 2019, 1:10 a.m. EST

Société Générale profit and revenue falls

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By Pietro Lombardi

AFP/Getty Images
Société Générale at the Actionaria fair in Paris in November 2017.

Société Générale SA’s third-quarter net profit and revenue fell, while the bank strengthened its capital.

France’s third-largest listed bank /zigman2/quotes/206663756/delayed FR:GLE -0.29%  by assets had net profit of 854 million euros ($948.1 million) for the period, compared with EUR1.31 billion a year earlier, it said Wednesday.

Net banking income, the bank’s top-line revenue figure, fell 8.4% to EUR5.98 billion.

The bank’s core Tier 1 ratio, a key measure of capital strength, rose to 12.5% in September from 12% at the end of June.

The bank said it has reached its target of cutting EUR10 billion in risk-weighted assets at its global banking and investor solutions business.

FR : France: Euronext Paris
-0.07 -0.29%
Volume: 3.83M
May 18, 2022 5:35p
P/E Ratio
Dividend Yield
Market Cap
€18.35 billion
Rev. per Employee

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