Societe Generale SA

GLE: XPAR (FRA)
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€32.20HwcWqvw

Societe Generale Earnings: Regulated Interest Rates Hit Revenue

In contrast to most of its European peers, Societe Generale reported lower revenue for the first quarter of 2023 compared with the same period a year earlier. Revenue declined 5% year on year due to net interest margin compression. Lower operating expenses and loan-loss provisions negated the decline in revenue, leading to a 6% year-on-year increase in operating profit.

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