Société Générale, France’s second largest bank, returned to profitability in the second quarter as strong performances from its retail and investment banking units helped offset balance sheet writedowns and weakness in Russian retail banking.
Net profit was €309 million, 52 per cent less than in the same period of 2008 but exceeding analysts’ expectations and marking a rebound from a first-quarter loss. – (Copyright Financial Times Limited 2009)
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