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 net profit of 470 million euros for the fourth quarter of 2020 on Wednesday.
Frédéric Oudéa, the group’s chief executive officer, said in a statement: “The fourth quarter results reaffirm the recovery of our business in the third quarter after a start of the year marked by the effects of the Covid crisis. “
Analysts expected net profit of Euro 252 million for the quarter and a loss of Euro 822 million for the year. The French bank reported a net result of 862 million euros for the third quarter.
The stock has fallen more than 43% in the last 12 months.