SG to downsize FICC and cut costs, though financing beats
Société Générale’s financing and advisory operations again produced strong revenues in the first quarter, according to results announced on Friday. Revenue in global markets and investor services fell, however, and here the bank is slashing risk-weighted assets, to refocus its business.
Net banking income in SG’s global banking and investor solutions division grew by 1%. A strong performance in one part of the division, financing and advisory, offset a weak performance in another, global markets and investor services.Revenues in financing and advisory were €711m, a jump of 19% ...
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