Société Générale sets profit target for 2012

French bank outlines aims for the next three years in 'an unquestionably ambitious programme'

French bank Société Générale said on Tuesday that it aims to generate net profit of around €6bn ($7.3bn) in 2012, based on its corporate and investment bank and retail banking operations in France and abroad, as it seeks to plot a smooth path for the future after a bumpy ride in recent years.

The 2012 profit figure is double the €3bn profit goal the group has set for 2010, and a stark improvement compared with the €678m profit it posted for 2009, when the bottom line was dented by write-downs on the bank's portfolio of riskiest assets.

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