France’s Societe Generale has reported net banking income of EUR5.87bn for the third quarter of 2014, a rise of 4% compared with EUR5.64bn a year earlier.
The group’s quarterly gross operating income amounted to EUR1.89bn, versus EUR1.78bn in the third quarter of 2013.
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The group’s net cost of risk amounted to EUR642m in the third quarter of 2014, down 40.8% compare with third quarter of 2013 which included a EUR200m collective provision for litigation issues.
The group’s risk-weighted assets amounted to EUR353.1bn at end-September 2014, against EUR342.6bn at end-December 2013 and EUR350.7bn at end-June 2014 according to CRR/CRD4 rules.
The bank’s French Retail Banking division posted net banking income of EUR2.02bn, down 3.2% compared with EUR2.09bn a year ago. Gross operating income declined 7.1% to EUR715m.
While, International Retail Banking & Financial Services division’s net banking income declined marginally to EUR1.9bn in third quarter of 2014 from EUR1.91bn a year ago.
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