Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Nigeria mosque blast: Scores die in attack during prayers in Kano

Read more

THE WORLD THIS WEEK

Sarko Bites Back: Ex-President Determined to Reclaim UMP Leadership

Read more

THE WORLD THIS WEEK

No Deal: Iran Nuclear Talks End Without Agreement

Read more

FASHION

"Cloakroom Vestiaire Obligatoire" a tender and hypnotic performance by Tilda Swinton and Olivier Saillard.

Read more

FRANCE IN FOCUS

Learning the language of love

Read more

AFRICA NEWS

Burkina Faso: Calls for probe into 1998 murder of journalist

Read more

FOCUS

Is this the end of Hong Kong's 'Umbrella Movement'?

Read more

#THE 51%

France marks 40th anniversary of abortion laws

Read more

#TECH 24

Virtual insanity? Artist to 'experience life' through Oculus Rift headset for 28 days

Read more

Société Générale, profit despite Kerviel scandal

Latest update : 2008-02-21

Despite the Jerome Kerviel trading scandal that cost the French bank nearly five billion euros, Société Générale has announced net profits of 947 million euros for 2007.

Societe Generale on Thursday announced net profits of 947 million euros (1.39 billion dollars) for 2007 despite the trading scandal that cost the French banking giant nearly five billion euros.
  
Net profits fell 82 percent as compared with 2006, when the figure stood at 5.221 billion euros, due to 4.9 billion euros in losses related to "unauthorised and hidden market activities" -- a reference to the scandal.
  
The board of directors would propose a dividend of 0.90 euros per share to the annual general meeting "consistent with the Group's target of a 45 percent payout ratio," said the report.
  
Rogue trader Jerome Kerviel, arrested earlier this month, faces charges of breach of trust, fabricating documents and illegally accessing computers in connection with the biggest investment banking scandal in history.
  
The bank has always maintained that he acted alone.
  

Date created : 2008-02-21

COMMENT(S)