PARIS (dpa-AFX) - French financial services provider Societe Generale S.A. (SCGLF.PK, SCGLY.PK) reported Thursday that its third-quarter Group net income surged to 1.37 billion euros from last year's 295 million euros.
Operating income was 2.11 billion euros, up 39.1 percent from the prior year, and gross operating income grew 37.3 percent year-over-year to 2.51 billion euros.
In the quarter, operating expenses edged down 0.8 percent from last year to 4.33 billion euros.
Revenues, as net banking income, was 6.84 billion euros, up 10.5 percent from prior year's 6.19 billion euros. At constant perimeter and exchange rates, revenues went up 11.8 percent.
The results were driven notably by the strong rebound in net interest income in France, in line with end of year estimate, and by another solid performance of Global Banking and Investor Solutions, in particular in Equities and Transaction Banking.
Slawomir Krupa, Chief Executive Officer, said, 'We continue to implement our various strategic initiatives such as BoursoBank's development, LeasePlan's integration within Ayvens and the acceleration of our contribution to the energy transition. Our goal remains unchanged: a sustainable performance that will create long-term value.'
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