SG recovers from structured product slaughter but sees smaller corporate boost

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By Owen Sanderson
05 Nov 2020

Société Générale’s third quarter investment banking figures showed a sharp improvement from earlier in the year, as the impact of the European dividend cancellations and losses on complex structured products washed out of the numbers. But the French firm’s financing activities, geared more to aircraft and project lending than its rivals, have seen less benefit from booming corporate debt markets.

SG said in its results on Thursday that overall profit for its global banking and investor solutions division, housing its wholesale and investment banking activities, was up 50% in the third quarter compared to last year — but on almost flat revenues of €2bn, with all the profit ...

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