Societe Generale's prize equity trading division slid by nearly 50% last year after its derivatives unit was battered in the first half, as the French bank slipped to its first annual loss in decades.

The bank posted a loss of €258m for 2020, the first time it has been in the red for the year since the 1980s, despite a rally in the final quarter, when it beat analyst expectations. This heaps more pressure on its chief executive Frédéric Oudéa, who is the longest-serving boss of any European bank boss that the sector has seen continuing churn at the top in recent months.