PARIS Credit Agricole reported a bigger-than-expected fall in first-quarter net profit after an increase of costs eclipsed higher profits at its French retail bank and corporate and investment banking arm.
* Share price down 3% in early trade
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PARIS Societe Generale on Friday reported a 26 percent drop in first-quarter net profit, but the French bank also revealed an increase in its capital position, showing the benefits of a restructuring plan, sending its shares higher.
* SocGen in middle of restructuring plan
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* Fixed income, currencies, commodities revenues up 32 pct
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PARIS Denis Kessler, the long-time chairman and chief executive of reinsurer SCOR, will on Friday become the first boss in France to fight for his job against an activist fund in a touch-and-go vote at its annual shareholder meeting.
PARIS French co-operative insurer Covea, which in January dropped plans to buy reinsurer SCOR, on Tuesday said it was still interested in diversifying into reinsurance via acquisitions.
PARIS Societe Generale plans to cut 1,600 jobs, mainly at its corporate and investment banking arm, in an attempt to boost profits after a poor performance last year, France's third-largest bank said on Tuesday.
PARIS Societe Generale, France's third-largest bank, unveiled on Tuesday a plan to cut 1,600 jobs, mainly at its corporate and investment banking arm, in a bid to buoy profitability after last year's poor performance.
PARIS Societe Generale has not yet taken a decision about any layoffs at its corporate and investment bank as it looks for 500 million euros (435.5 million pounds) in cost savings, a source at the bank said on Friday.