Societe Generale's corporate and investment banking division eked out a €77m net profit in the third quarter, as market volatility coupled with the bank's decision to reduce its risk profile and refinancing needs, particularly in US dollars, impacted on the bottom line.

The French bank this morning posted third-quarter revenues of €1.2bn, down from €1.8bn the previous three months, as the bank focused on reducing its funding needs and the size of the balance sheet.