The Limited Times

Now you can see non-English news...

Société Générale still struggling

2020-06-16T17:38:18.704Z


The bank is penalized by its overly specialized market activities. And low profitability.


Société Générale had another hectic day on the stock market on Monday. After falling 6% at the opening of the market, its price finally closed down 2.42%. In question? A note from analysts at Barclays who expect that consumer credit, an activity that will suffer from the explosion in unemployment, weighs on the profits of French banks (Crédit Agricole, BNP Paribas, Societe Generale). Societe Generale would be the most penalized. But Barclays is not worried about their equity.

Read also: The recovery will be long and complicated for businesses

On the stock market, Societe Generale remains one of the most "massacred" banks in Europe: its share price has fallen by more than 54% since January, against a drop of 37% for the European sector index! The warning last week of Frédéric Oudéa, the general manager of Société Générale since 2008, on the market activities of the bank, sounded the death knell for the rebound in May. During an exchange with investors, the manager explained

This article is for subscribers only. You still have 77% to discover.

Subscribe: € 1 the first month

cancellable at any time

Enter your email

Already subscribed? Log in

Source: lefigaro

All business articles on 2020-06-16

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.