News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

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.

WSJ Logo