SocGen underperforms French rivals in equities trading in Q2

Paris

SOCIETE Generale underperformed its French banking rivals in equities trading in the second quarter, reporting lower revenue from that business while BNP Paribas and Natixis achieved significant gains.

Overall, France's second biggest bank on Wednesday reported a 28 per cent fall in second-quarter net profit after setting aside 300 million euros (S$482 million) to pay for potential legal costs, part of the bank's efforts to turn the page following a series of legal disputes and scandals.