Societe Generale reports 15% drop in profits, prepares for US legal battles

by Dramelin 5:30 AM 0 comments

Societe Generale reported a 15 percent drop in net income during the third quarter of the year, as it prepared to resolve two legal disputes in the U.
The shares fell 4 percent in early trade.
Here are some of the key metrics: Speaking to CNBC on Friday, Frédéric Oudéa, the bank`s chief executive officer, said that the low interest rate environment poses a challenge to the bank`s books.
"We are still penalized by the low rate environment," Oudéa said, but "going forward, in particular in light of a progressive accommodation of the monetary policies by the central bank in Europe, we should see then a better revenue outlook.