Société Générale, the French banking group, more than doubled net profits from its corporate and investment banking division in 2003 on the back of a surge in its equity and advisory business, which enjoyed a five-fold profit increase.

With fourth quarter investment banking profits more than tripling to €287m, SG's annual profits increased from €509m ($653m) in 2002 to €1.08bn last year - just short of the record €1.1bn levels of 2000.