PARIS (dpa-AFX) - French lender Societe Generale SA (SCGLF.PK, SCGLY.PK) Friday posted a decline of 25.8 percent in its reported Group net income for the first quarter, with 1.6 percent downslide in net banking income.
Reported Group net income for the quarter slid to 631 million euros from 850 million euros, and earnings per share declined to 0.65 euros from 0.93 euros last year. Underlying Group net income slipped to 1.01 billion euros from last year's 1.204 billion euros.
Net banking income was 1.6 percent lower year-over-year at 6.191 billion euros. While French Retail Banking's net banking income declined 3.2 percent, International Retail Banking & Financial Services' net banking income rose 4.4 percent. Net banking income for Global Banking & Investor Solutions rose 1.1 percent.
In the first quarter, ROE was 4.2 percent versus 6.3 percent last year, and ROTE was 5.5 percent versus 7.4 percent a year ago. Underlying ROTE came in at 8.4 percent, compared to 10.9 percent last year.
Copyright RTT News/dpa-AFX
© 2019 AFX News
