This photo, taken on October 28, 2019, shows the logo of the Societe Generale bank, in Ouistreham, Normandy, France.
SAMEER AL-DOUMY | AFP | Getty Images
LONDON — Societe Generale reported Wednesday a net profit of 470 million euros for the fourth quarter of 2020.
Frédéric Oudéa, the group’s chief executive officer, said in a statement: “The Q4 results provide further confirmation of the rebound in our businesses observed in Q3 after a beginning of the year marked by the impacts of the Covid crisis.”
Analysts were expecting a net income of 252 million euros for the quarter and a loss of 822 million for the year. The French bank reported a net income of 862 million euros for the third quarter.
The stock is down over 43% in the past 12 months.