Societe Generale Reports Higher-Than-Expected Earnings

Societe Generale, a French financial institution, has released its second-quarter earnings report, which shows an increase in net income and net banking income.

• Net income: The company’s net income has increased, with the exact figure not specified in the report.
• Net banking income: Societe Generale’s net banking income has also seen an increase, with the exact figure not specified in the report.

Market Reaction

The company’s shares have experienced a rise in value, with Societe Generale and BBVA seeing significant gains. Notably, BBVA’s stock price has increased by 8.7%.

• Sector performance: The bank’s sector has seen a strong performance, with the Stoxx 600 Banks index rising by over 1%.
• CAC 40 index: The CAC 40 index, which includes Societe Generale’s stock price, has experienced a slight decline at the end of the trading day.

Corporate Actions

Societe Generale has announced plans to introduce an interim cash dividend and a share buyback program worth EUR 1 billion.