Net profit in corporate and investment banking at Société Générale in the first quarter of this year grew 57.1% year-on-year, thanks to a strong performance from its equity derivatives business.

Net profit in corporate and investment banking was €498m ($626m), above analyst expectations of €373m. The division, headed by Jean-Pierre Mustier, contributed 41% of group net profit, compared to 43% in the fourth quarter of last year, and had higher net profits than French retail banking.