Societe Generale SA

Shares of Societe Generale <SOGN.PA>, France's third-largest bank by market capitalisation, jumped on Thursday after it hit its solvency target a year early, easing investor concerns it would have to raise more capital.

Societe Generale, France's third-largest bank in terms of market capitalization, posted lower second quarter net profits after earnings were impacted by restructuring costs at its corporate and investment banking unit.

The family of the former owners of a Cuban bank seized by Fidel Castro's government nearly six decades ago sued Societe Generale <SOGN.PA> for approximately $792 million, saying the French bank owes damages for circumventing U.S. sanctions against Cuba.

The U.S. Federal Reserve may lower lending rates by a quarter point in July and by the same increment in September on signs of slowing economic growth and risk from the trade conflict between China and the United States, Societe Generale said on Thursday.

Societe Generale has made a number of promotions in its debt capital markets team, with Felix Orsini appointed global head of debt capital markets.

Societe Generale SA's corporate and investment banking unit (CIB) said on Monday it had appointed Patrick Perreault as head of mergers and acquisitions at its corporate finance division in France.

Paris-based Societe Generale said on Thursday it has received banking authorisation from Australia's financial regulator, years after winding down operations in the country.

The latest U.S. and Chinese round of planned tariffs on each other's imports may reduce global economic growth by 0.15% and lower China's gross domestic product by 0.5% and U.S. GDP by 0.25%, Societe Generale's U.S. chief economist said on Monday.

French bank Societe Generale said on Tuesday that it planned to increase profits at its domestic retail banking arm in 2020 thanks to automation and focussing on wealthier clients.

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.

The Ivorian arm of French bank Societe Generale made a net profit of 42 billion CFA francs ($72 million) in 2018, up 6 percent from 39.62 billion CFA francs in 2017, a company statement in newspaper Fraternite Matin showed on Thursday.

French state-owned investment fund Caisse des Depots, which holds a 2.5 percent stake in Societe Generale, will vote to renew the French bank's Chief Executive Frederic Oudea as board member for another four-year term.

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.

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.

France's Societe Generale plans to cut about 600 jobs at its investment banking unit in Paris and a few hundred more in London and New York, a source at the bank said on Friday.

French bank Societe Generale has reshuffled part of its top management after the retirement of Jean-Marc Giraud as head of inspection and audit, it said on Monday.

Societe Generale board said on Monday it will ask shareholders to renew Chief Executive Frederic Oudea for a new four-year term at the next annual assembly to be held on May 21.

Societe Generale could shed 1,500 investment banking jobs as part of a cost-cutting plan, French newspaper Le Figaro reported.

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.