Societe Generale reports net loss of 1.26 billion euros for second quarter
The French bank decided to make further provisions of 653 million euros to deal with potential risks from the ongoing crisis.
reported a net loss of 1.26 billion euros for the second quarter of the year, missing market expectations, as the bank set aside more capital due to the pandemic and reduced the value of its trading business. "While April and May were heavily impacted by the reduction in activity of numerous economies around the world, the rebound in activities from mid-May is very encouraging," Frédéric Oudéa, the bank's Chief Executive Officer, said in a statement.
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