Net first-quarter profits at Société Générale's corporate and investment banking unit rose 5% to €666m ($902m) as costs rose faster than revenues in the three months since the division was revamped to drive growth over the next three years.

Profits climbed from €637m in the first quarter of last year, after adjusting the 2006 figure to take into account SG's new structure.

Vivek Ahuja

Société Générale

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Rising costs put drag on SG profits

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