French banking giant Société Générale earned 1.1 billion ($1.69 billion) in the first quarter, down 23% from 1.4 billion ($2.2 billion) in the year-ago period but beating analyst estimates.
In connection with an unauthorized trading scandal in January, the Paris-based company suffered a loss of 4.9 billion, which it accounted for in last years fourth quarter.
Fortis SA/NV reported a 31% decline in first-quarter net income to 808 million ($1.25 billion), or 0.37 a share ($0.57), from 1.17 billion, or 0.76 a share, in the year-ago period.
The Brussels, Belgium-based financial services company said that it lost 380 million ($590 million) in connection with the global mortgage crisis.
No comments:
Post a Comment