Societe Generale SA said Wednesday its net profit fell 52 percent in the second quarter as the French bank wrote down its derivatives holdings and suffered increased losses on bad loans.
Société Générale Expects Small Quarterly Profit
The French bank said that bad derivatives deals would cost it $1.8 billion in the second quarter, but that strong results in other units outweigh those losses.
SocGen net profit triples
French bank Societe Generale SA said Wednesday that net profit in the second quarter more than tripled after higher earnings at its French retail banking business offset a decline in...
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