SocGen Says Equities Revenue Improved After First-Half Implosion
- Bank expects more-balanced markets revenue in third quarter
- Equities unit working on products with less risk, lower yield
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Societe Generale SA said revenue at its equities division has been improving in the third quarter, after the struggling business drove the bank to its worst loss in 12 years in the first half.
A gradual recovery has been taking place since mid-May, when most European nations lifted pandemic-related lockdowns, SocGen said in a presentation on Thursday.