SocGen Q4 23 Earnings:
Net Income: EUR430M (est EUR450.6M)
Equities Revenue EUR765M (est EUR653.7M)
Op. Expenses: EUR4.67B (est EUR4.64B)
Societe Generale SA vowed to increase revenue by at least 5% this year as the impact of wrong-way interest rate hedges starts to fade and Chief Executive Officer Slawomir Krupa simplifies the lender.
The Paris-based bank announced the target on Thursday, after reporting a 9.9% drop in the top line and 60% lower profit for the fourth quarter, driven by weaker income from retail banking in France and a slump in fixed income trading. Equities trading jumped.