MADRID, 3 Ago. (EUROPA PRESS) –
The French bank Société Générale registered an attributable net profit of 1,768 million euros in the first six months of 2023, in contrast to the losses of 690 million recorded by the entity in the same period of the previous year, when its results were affected by the withdrawal of the entity from Russia.
However, in the first half of the year, Société Générale’s net banking product stood at 12,958 million euros, 7.1% below the turnover registered a year earlier.
For its part, the French bank registered a drop in the net cost of credit risk, up to 348 million euros, 55.3% below the 778 million in the first half of 2022.
In the second quarter, Société Générale obtained an attributable net profit of 900 million euros, compared to the ‘red numbers’ of 1,511 million recorded between April and June 2022, while its net income decreased by 8.9%, up to 6,287 millions of euros.
The item destined to cover the entity’s credit risk totaled 166 million euros in the second quarter, compared to 217 million in the second quarter of the previous year.
“During the quarter, commercial activity was good in most of the businesses,” declared the entity’s CEO, Slawomir Krupa, who attributed the drop in group revenues to the drop in the interest margin in France and the income from market activities in a context of gradual normalization after some particularly favorable years.
Likewise, the executive highlighted that operating expenses remained contained despite persistent inflationary trends.
Thus, in the first six months of the year, Société Générale’s operating expenses increased by 0.4%, to 9,498 million, including an increase of 2.7% in the second quarter, to 4,441 million.
