Tuesday, July 31, 2012

Societe Generale profits hit by eurozone debt crisis

SocGen building

Net profit was 433m euros ($533m; £340m), down 42% on the 747m euros the bank made a year earlier. This was well below analysts' expectations.

Underlying revenue fell 7% to 6bn euros, largely due to a 28% fall in investment banking revenue.

The eurozone debt crisis has hit profits at many of Europe's top banks.



Source & Image : BBC

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