Societe Generale third-quarter net profits more than doubled

3rd November 2010, Comments 0 comments

French bank Societe Generale on Wednesday posted better than expected third-quarter profits of 896 million euros (1.254 billion dollars), more than double the same period last year.

The figure was much higher than the 716 million euros forecast by Dow Jones Newswires analysts.

"It's the confirmation of the recovery of Societe Generale," chief executive Frederic Oudea said on the financial news channel CNBC.

Societe General lost billions of euros in a rogue trader scandal in 2008.

© 2010 AFP

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