SG Private Banking, the wealth management arm of French bank Société Générale, enjoyed net inflows of €1.2bn in the third quarter, while its asset management division suffered a net outflow of €1.6bn.

The private bank said after taking into account a positive market effect of €3.2bn and a negative currency effect of €0.9bn, its assets under management amounted to €74.5bn at end-September 2009.