Société Générale: quarterly profits up sharply
(CercleFinance.com) - Société Générale has announced a 21.
3% increase in its underlying net income for Q1 2022 to 1.57 billion euros, as well as a 37.6% increase in its underlying gross operating income to 2.96 billion euros.
The bank has announced a strong 16.6% rise in revenues to 7.28 billion euros, with sound performance in all business lines - particularly market activities, financial services and financing and advisory activities, even in in a more uncertain environment, management said.
The company also highlighted improved operating leverage and a contained cost of risk at 39 bp (around 31 bp excluding Russian assets being sold).
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3% increase in its underlying net income for Q1 2022 to 1.57 billion euros, as well as a 37.6% increase in its underlying gross operating income to 2.96 billion euros.
The bank has announced a strong 16.6% rise in revenues to 7.28 billion euros, with sound performance in all business lines - particularly market activities, financial services and financing and advisory activities, even in in a more uncertain environment, management said.
The company also highlighted improved operating leverage and a contained cost of risk at 39 bp (around 31 bp excluding Russian assets being sold).
Copyright (c) 2022 CercleFinance.com. All rights reserved.