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societe generale profit declines 84pc

  1. 19,097 Posts.
    lightbulb Created with Sketch. 70
    Doh - worse than forecasted.

    Is this the same bank approx. 6mths ago, that had some rogue trader lose them millions ???

    Nov. 3 (Bloomberg) -- Societe Generale SA, France's third- largest bank, said profit fell 84 percent in the third quarter as credit-related writedowns caused losses at the investment-banking and asset-management units.

    Net income dropped to 183 million euros ($234 million) from 1.12 billion euros a year earlier, the Paris-based bank said in an e-mailed statement today. The median estimate of 12 analysts surveyed by Bloomberg was a profit of 581 million euros.

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