Skip to content
Subscriber Only

SocGen Tumbles as Trading Drops, Putting Oudea on Back Foot

  • Revenue slumps in equities, fixed-income, French retail
  • Bank sets aside 300 million euros in litigation provisions
Video player cover image
Societe Generale Deputy CEO Severin Cabannes discusses the banks result, and talks about Brexit and legal provisions.(Source: Bloomberg)
Updated on

Societe Generale SA fell the most in three months after plunging demand for the derivatives products the French bank pioneered turned its traditional strength into a weakness.

The 19 percent slump in revenue last quarter at the equities division, including prime services, missed the estimate of analysts -- who predicted little change -- and trailed a gain of about 6 percent recorded by arch-rival BNP Paribas SA. Debt-trading income also tumbled.