Societe Generale has mentioned a reduction in global banking revenue


Societe Generale, one of the largest banks in France, warned of a decline in global banking revenue in the fourth quarter of 2018. In a press release, the company reports that the decrease in revenue in the last quarter of the year was 20% against the figure for 2017 and 10% in annual terms. The global banking division includes investment banking, equity transactions and asset control. Revenue data from overseas retail and finance services, as well as corporate services, will be more encouraging. The financial results of the French retail business will repeat the bank’s forecasts, the SG press service reports. The results of October-December for the bank will demonstrate a loss of 240 million euros. The first tier capital adequacy forecast in the last quarter of 2018 reached 11.4% -11.6%. SG management will pay out an annual dividend of 2.2 euros per share. Bank depositors will be able to receive dividend payments in the form of shares.

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