This photo, taken on October 28, 2019, shows the Societe Generale bank logo in Ouistreham, Normandy, France.
SAMEER AL-DOUMY | AFP | Getty Images
LONDON – Societe Generale reported a net profit of 470 million euros in the fourth quarter of 2020 on Wednesday.
Frédéric Oudéa, the group’s CEO, said in a statement: “The fourth quarter results provide further confirmation of the recovery in our business seen in the third quarter after a start to the year marked by the impacts of the Covid crisis.”
Analysts had expected a net profit of 252 million euros in the quarter and a loss of 822 million in the year. The French bank recorded a net profit of 862 million euros in the third quarter.
The stock fell more than 43% in the last 12 months.