Group results: Q1 2010
Satisfactory first quarter: commercial and financial performances reinforcing full-year targets
The first quarter 2010 Group net income totalled EUR 1.06 billion and reflects:
- the commercial dynamism of retail banking activities and the quality of Corporate and Investment Banking's customer franchises,
- the gradual recovery in the profitability of Specialised Financing activities,
- signs of improvement in the cost of risk
The beginning of 2010 has provided further evidence of the improvement in the global economic outlook. In this context the Societe Generale Group has continued to develop its businesses and produced satisfactory Q1 results that reinforce the targets announced when the 2009 full year results were published.