Societe Generale q3 2020 earnings


A logo outside a Societe Generale SA bank branch in Paris, France.

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LONDON — Societe Generale reported a net income of 862 million euros ($ 1.011 billion) for the third quarter on Thursday.

Analysts had estimated a net income of 458 million euros for the quarter, according to Refinitiv.

This comes after the French bank reported a net loss of 1.26 billion euros for the second quarter of the year due to Covid-related provisions and the reduced value of its trading business.

Shares of Societe Generale are down about 58% year-to-date.

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