SocGen, Credit Agricole Report Earnings
Societe Generale (SocGen) reported an underlying group net income of €1.6bn ($1.7mn) on revenues of €7.3bn ($7.7bn), up 16.6% YoY. It said that all businesses witnessed “good momentum”. Its French Retail Banking revenues were up 6.4% YoY, International...
UniCredit Reports Fall in Q1 Earnings
Italy’s UniCredit reported a 70% YoY decline in net income to €247mn ($260.2mn) due to higher-than-expected Russia related provisions at €1.23bn ($1.3bn) in Q1. Total revenues were at €5.2bn ($5.5bn), up 7.3% YoY, driven by higher fees and net interest income....
HSBC, Ping An to Discuss Strategic Breakup Proposal of Asia Business
HSBC and Ping An executives plan to meet in mid-May to discuss the latter’s proposal that HSBC should explore strategic options such as a spin-off of its Asian business, as per a source. Business Times notes that Ping An is the biggest shareholder in HSBC with...
SBI Plans to Raise $2bn via Offshore Bonds
India’s state-owned lender State Bank Of India (SBI) plans to raise $2bn by issuing long-term offshore bonds in the current financial year 2022-23. The bond issuance could be under a single deal or multiple tranches through a public offer or private placement of...
