Société Générale's corporate and investment banking division has posted its best quarterly results in two years, with profit up 19% from the same period last year at €198m ($227m).

The French bank attributed the division's success to a steady decline in interest rates which resulted in a sustained level of activity for treasury and trading activities. Profit for investment banking and fixed income was up 15.3% on the first quarter of 2002 at €128m.