By Pietro Lombardi 
 

Societe Generale SA (GLE.FR) reported its third-quarter results on Thursday. Here's what you need to know:

 

NET PROFIT: The bank reported a 32% increase in third-quarter net profit to 1.23 billion euros ($1.41 billion). This compares with analysts' expectations of a net profit for the period of EUR896 million, according to a consensus forecast provided by FactSet.

 

REVENUE: Net banking income, the bank's top-line revenue figure, of EUR6.53 billion beat analyst expectations of EUR6.00 billion. Net banking income rose 9.6% on year.

 

WHAT WE WATCHED:

 

--FRENCH RETAIL BANKING REVENUE: SocGen's French retail banking business reported a 1.8% increase on year in revenue. At the bank's international retail banking & financial services division, revenue rose 7.3%.

 

--MARKETS REVENUE: The global banking and investor-solutions business, which includes investment banking and asset management, reported a 7.7% increase in revenue. Fixed income, currencies and commodities revenue was flat on year, while equities revenue rose 19%.

 

--CAPITAL: SocGen's core Tier 1 ratio, a key measure of capital strength, rose to 11.2% in September, up from 11.1% in June.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

November 08, 2018 04:41 ET (09:41 GMT)

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