Net profit of Societe Generale has decreased up to € 1,1 billion
13 May 2008Net profit of Societe Generale has decreased up to € 1,1 billion
During the first quarter of 2008 net profit of French bank Societe Generale S.A. has decreased on 23,4 % - up to 1,1 billion euro in comparison with 1,43 billion euro, received for the similar period year earlier. Such data has been published in the financial report of bank.
The proceeds of bank for the specified period have decreased on 6,1 % and have made 5,68 billion euro against 6,05 billion euro year earlier. The operational profit for accounting quarter has made 1,18 billion euro, that is on 45,5 % less than a similar parameter for I quarter 2007, fixed on a level of 2,16 billion euro.
Societe Generale connects decrease in net profit for the accounting period with falling profitableness of banking division investment and investments’ management.
It is worth of mentioning that in 2007 net profit of bank has decreased on 81,9 % - up to 947 million euro in comparison with 5,22 billion euro, received year earlier. Proceeds of bank have decreased on 2,2 % and have made 21,92 billion euro against 22,42 billion euro year earlier. Operational profit has made 6,71 billion euro, that is on 16,5 % less than a similar parameter in 2006, fixed on a level of 8,04 billion euro.
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