This photo, taken on October 28, 2019, shows the logo of the Societe Generale bank, in Ouistreham, Normandy, France.
SAMEER AL-DOUMY | AFP | Getty Images
LONDON – Societe Generale reported a net profit of 470 million euros on Wednesday for the fourth quarter of 2020.
Frédéric Oudéa, CEO of the group, said in a statement: “The results of the fourth quarter offer further confirmation of the rebound in our business observed in the third quarter after a start to the year marked by the impacts of the Covid crisis “.
Analysts expected a net profit of 252 million euros for the quarter and a loss of 822 million for the year. The French bank reported a net profit of 862 million euros during the third quarter.
Shares have fallen above 43% in the last twelve months.