Aided by solid CIB revenues and a resilient international retail performance, Societe Generale SA (ADR) (OTCMKTS:SCGLY) (EPS:GLE) posted solid results in 2Q14, notes Jefferies. Omar Fall of Jefferies in the research note dated August 1, 2014 assigned ‘Hold’ rating on SocGen and pegged target price at €44.60. SocGen – Solid show by Societe Generale The Jefferies analyst points out Societe Generale SA (ADR) (OTCMKTS:SCGLY) (EPS:GLE)’s headline net income of €1,030m compares to consensus of €863m. By excluding exceptionals such as litigation and Newedge acquisition gain, the beat was 14% at the pre-tax profit level. France’s second-largest bank by market value…
SocGen Earnings Boosted By CIB, RBS Results Mixed
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports