Credit Agricole Net Income Up 4.4x; SocGen’s Profits Jump 3.8x
Credit Agricole Group reported a 4.4x rise in its Q4 net income to €2.35bn ($2.7bn) vs. €530mn ($604mn) a year ago. This was helped by revenues increasing 9.6% to €9.5bn ($10.8bn) from last year’s €8.8bn ($10bn) and its underlying cost of risk down to down to...
SocGen, StanChart Report Surge in Profits
SocGen reported a Q2 underlying group net income of €1.35bn ($1.6bn) vs. only €8mn ($9.5mn) in Q2 last year. For the half year, they reported net income of €2.65bn ($3.1bn), up 13.5% vs. 1H2019 and nil profits during the same period last year. The bank reported no...
SocGen Raises $1 Billion Via AT1 at 4.75%
SocGen raised $1bn via a Perpetual non-call 5Y (PerpNC5) AT1 bond at a yield of 4.75%, 50bp inside initial guidance of 5.25% area. The bonds have expected ratings of Ba2/BB/BB+. The first call date is on May 26, 2026 until which the coupon will be fixed. If not...
