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SocGen targets more capital, savings as results top expectations

Reuters  |  PARIS 

By Leigh Thomas and Maya NikolaevaPARIS (Reuters) - Societe Generale is to bolster its capital cushion and step up cost savings after a surge in equity trading revenue helped the bank produce a 25 percent increase in second-quarter profit, sending its shares up more than 9 percent.The earnings are the French bank's strongest since the 2007 financial crisis and its action to build up more capital shows the impact of tighter regulation on the industry."The banking environment is more restrictive with the new regulations imposing changes...and our three-year plan is adapted for it," Chief ...

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First Published: Wed, August 05 2015. 18:59 IST
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