Société Générale cut the outlook for its French retail bank, even as a booming quarter for equities trading helped it beat second-quarter profit forecasts.
Chief executive Slawomir Krupa, who was appointed a year ago to get the French lender back on track after a series of restructurings, is hoping SocGen’s investment bank can help drive a turnaround.
In a strong quarter for investment banking across Wall Street, SocGen followed peer BNP Paribas in outperforming big US banks with a 24 per cent rise in equities trading revenues.
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