Bank of France SocGen is suffering from a market downturn

                                                                                    INQUIRY

      Societe Generale, France's third-largest listed bank, cut its profit targets after the investment and corporate banking sectors suffered a market downturn in the fourth quarter.
The Bank expects tangible assets to return between 9% and 10% in 2020, below its previous target of 11.5%. Societe Generale also said it would not achieve its revenue growth target of 3%. The bank lowered its forecast after its fourth quarter revenue fell by 6.3% to 5.93 billion euros (5.2 billion), in line with analysts'forecasts gathered by the company's data.
Due to the overall market downturn, the company's corporate and investment banking sector's profits fell by more than half in the current quarter.
After its dismal performance in the market, Societe Generale, like its cross-town rival BNP Paribas, decided to cut costs by 500 million euros in its corporate and investment banking sectors. The bank will also sell more assets than planned.
Societe Generale also replaced Jean-Francois Gregoire, deputy chief risk officer, as Frank Drouet, head of market activities.


INQUIRY sales@hellerbearings.com
  • Details： Bank of France SocGen is suffering from a market downturn

  • Like Model No.:

  • We cooperate with UPS,TNT,FEDEX,EMS,DHL,etc.They guarantee to meet your needs in terms of time and money,even if you need your Bank of France SocGen is suffering from a market downturn bearing tomorrow morning (aka overnight or next day air) on your desk, 2, 3 days or more.Note to international customers, YES, we ship worldwide. INQUIRY -->

    Hot Model No.: