This photo, taken on October 28, 2019, shows the logo of the Societe Generale Bank in Ouistreham, Normandy, France.
SAME AL-DOUMY | AFP | Getty Images
LONDON – Societe Generale reported a net profit of 470 million euros for the fourth quarter of 2020 on Wednesday.
Frédéric Oudéa, the group’s CEO, said in a statement: “The Q4 results provide further confirmation of the upswing in our businesses observed in the third quarter after a start of the year, marked by the effects of the Covid crisis. “
Analysts expected a net income of 252 million euros for the quarter and a loss of 822 million for the year. The French bank reported a net income of 862 million euros for the third quarter.
The share has fallen by more than 43% over the past 12 months.