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4 Min Read PARIS (Reuters) -Societe Generale will press ahead with an overhaul of its investment bank after its equities division posted its best performance in six years in the first quarter, the French bank said on Thursday. FILE PHOTO: The facade of a building of the French bank Societe Generale is seen in Paris, France, February 9, 2021. REUTERS/Sarah Meyssonnier Revenue from share trading surged to 851 million euros from just 9 million a year ago, helping SocGen post a better than expected net profit of 814 million euros ($977 million) after a loss of 326 million euros in the first quart...

Rebound in trading boosts earnings at France's SocGen 05/06/2021 6:41 PARIS (Reuters) - Societe Generale on Thursday recorded a higher than expected first quarter profit as its equities unit rebounded from an earnings wipeout to post its best performance in six years. France's third-largest listed bank, which tumbled in 2020 to its first full-year loss for a decade as the COVID-19 pandemic rattled its businesses, posted a 814 million euros ($977.37 million) net profit in the quarter against a 326 million euros loss a year ago. Earnings per share amounted to 0.79 euro, above a mean forec...

Rebound in trading boosts earnings at France's SocGen

SocGen in talks over $979 million sale of Lyxor to Amundi Published 2 hours ago By Benoit Van Overstraeten PARIS (Reuters) – French bank Societe Generale is in exclusive talks to sell most of asset manager Lyxor to Amundi for 825 million euros ($979 million), as SocGen continues its corporate restructuring while Amundi seeks to increase its market share. SocGen said on Wednesday that the capital gain from the Lyxor sale would be around 430 million euros, adding that the transaction would conclude the “refocusing programme” it launched in 2018. CEO Frederic Oudea is revamping SocGen’s...

3 Min Read PARIS (Reuters) -Societe Generale is in exclusive talks to sell most of asset manager Lyxor to Amundi for 825 million euros ($979 million) and complete the French bank’s corporate restructuring while boosting Amundi’s market share. FILE PHOTO: A Societe Generale sign is seen outside a bank building in Paris, France, February 9, 2021. REUTERS/Sarah Meyssonnier/File Photo SocGen said on Wednesday that the capital gain from the Lyxor sale would be around 430 million euros, adding that the transaction would conclude the “refocusing programme” it launched in 2018. CEO Frederic O...