SG turns around CIB

16 Feb 2011

Pre-tax income at Société Générale’s corporate and investment banking unit surged to Eu2.362bn in 2010 from Eu727m in 2009 as lower provision costs outweighed a revenue slump in its global markets trading businesses.

The bank reported better fourth quarter numbers in fixed income, currencies and commodities — up 76% on the fourth quarter of 2009 — and in equities — up 1% on the period. And with financing and advisory revenues in the quarter hitting Eu757m, up 20%, the CIB unit ...

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