Société Générale: H1 earnings up sharply

(CercleFinance.com) - Société Générale has reported a 13.
5% increase in H1 2021 underlying group net income at 2.65 billion euros, with an 83.4% increase in underlying EBITDA at 4.2 billion euros.

H1 revenues rose by 19.5% to 12.5 billion euros, with a "strong quarter in Global Banking & Investor Solutions, substantial growth in Financial Services and a rebound in Retail Banking".

The bank has improved its outlook for 2021, with revenues expected to rise across all business lines, an increase in the positive jaws effect and a downward revision - of 20-to-25 basis points of its FY forecast for the net cost of risk.


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