"If you compare with the average of the market, it is fair to say that our performance is above the average of the market this quarter," Cabannes said.On the week`s dramatic market turmoil which saw volatility spike at record highs, the banker noted that because volatility had been at historic lows throughout 2017, a change is to be expected. "We had a peak last Monday, but it is not a structural situation and we anticipate a bit higher volatility regime during the next period of time."
But this does not change the bank`s positive outlook for this year and the next in terms of market activities, Cabannes said. "We`re still very positive for the macroeconomic environment and including in this part of the business."
Earlier this week, SocGen`s French rival BNP Paribas reported quarterly net profit that fell short of market forecasts although BNP Paribas slightly increased its 2020 profitability target.
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