Societe Generale banks 25.4 percent earnings jump

10th February 2005, Comments 0 comments

PARIS, Feb 10 (AFP) - French bank Societe Generale said Thursday its 2004 net earnings jumped 25.4 percent to EUR 3.125 billion (USD 4 billion) from the previous year.

PARIS, Feb 10 (AFP) - French bank Societe Generale said Thursday its 2004 net earnings jumped 25.4 percent to EUR 3.125 billion (USD 4 billion) from the previous year.

The performance beat forecasts of a 20 percent rise in profits by FactSet JCG.

The bank's fourth quarter net earnings also eclipsed expectations, rising 29.8 percent from fourth quarter 2003 to EUR 836 million.

Net banking product for all of 2004 was up five percent from the previous year to EUR 16.416 billion while general costs rose 3.8 percent.

At the operating level net earnings came to EUR 5.449 billion, up 7.5 percent.

© AFP

Subject: French News

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