PARIS (dpa-AFX) - French lender Societe Generale SA (SCGLF.PK, SCGLY.PK) posted higher Group net income of 1.03 billion euros for the second quarter of 2014, compared with 955 million euros, last year.
When corrected for non-economic items such as revaluation of own financial liabilities and DVA, Group net income was 1.04 billion euros in the recent quarter, as against the prior year's 1.025 billion euros. This includes a 210 million euros gain related to the acquisition and initial consolidation of Newedge Group.
Quarterly net banking income of 5.89 billion euros, was lower than the prior-year figure of 6.12 billion euros. When adjusted for changes in Group structure and at constant exchange rates, businesses' net banking income edged up by 0.6% year-over-year. For the quarter, the Group's ROE stood at 8.8%.
Copyright RTT News/dpa-AFX