Soc Gen beats consensus to deliver strong Q4 results
Société Générale’s corporate and investment banking business reported €6.7bn of revenues in 2013, a 14% increase on 2012 and headline group net income was strongly up at €2.175bn versus the previous year’s €790m. SocGen beat net income consensus estimates for the fourth quarter by nearly €160m.
The French bank posted €322m of net income in the fourth quarter, which included €446m of Euribor litigation charges and €369m of own debt valuations, compared to 2012’s fourth quarter loss of €471m.
Its global markets business recorded strong performance from equity activities, with a revenue-increase of nearly
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