Investment Banking

SocGen profit lifted by Visa Europe stake sale

French bank's Q2 earnings reflect market volatility sparked by the prospect of Brexit, a wobbly economy and persistently low rates

Sale of shares in Visa Europe helped boost SocGen's second-quarter results
Sale of shares in Visa Europe helped boost SocGen's second-quarter results Photo: iStock

French bank Societe Generale on August 3 reported a jump in second-quarter net profits, boosted by a gain on the sale of its shares in Visa Europe.

The Paris-based lender, France's third-largest listed bank by assets, said net profits rose 8% to €1.46 billion in the three months through June 30, from €1.35 billion a year earlier. Revenues were up 2% to€6.98 billion.

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