The Local France

France's Societe Generale to cut 1,500 jobs: report

Sat, 23 Feb 2019 17:27:27 +0100

French banking group Societe Generale is planning to cut 1,500 positions in its BFI corporate and investment banking arm, Le Figaro newspaper reported on Saturday.

French bank fined €5 million over anti-terror lapses

Sat, 22 Jul 2017 04:38:50 +0200

France's banking watchdog said on Friday it had fined Societe Generale €5 million over lapses in its measures to prevent money laundering that could finance terrorism.

SocGen faces €1 billion lawsuit over Gaddafi ties

Mon, 31 Mar 2014 15:53:00 +0200

French bank Societe Generale has been hit Monday with a €1 billion lawsuit in British court for allegedly channelling bribes to allies of the son of deposed Libyan dictator Moamer Gaddafi.

French bank confirms commitment to Russia

Fri, 14 Mar 2014 09:05:00 +0100

Société Générale confirmed on Thursday the French bank's commitment to the Russian market and said any Western sanctions against Moscow over Ukraine would have a limited impact.

French banking giant SocGen to cut 1,000 jobs

Tue, 07 May 2013 13:09:00 +0200

French banking giant Société Générale revealed on Tuesday it would cut at least 1,000 jobs worldwide, in an effort to find almost €1 billion in savings by 2015. The announcement comes as the bank's first-quarter profit fell by half.

Soc Gen 'rogue trader' wants €4.9b in damages

Wed, 13 Feb 2013 08:23:00 +0100

French rogue trader Jerome Kerviel has said he was trying to render meaningless the 4.9 billion euros in damages he owes to Société Générale by seeking the same amount from the bank in a labour court.

French banks hit by credit downgrade

Fri, 26 Oct 2012 11:52:00 +0200

Ratings agency Standard and Poor's downgraded three French banks on Thursday, including giant BNP Paribas, and placed 10 others on negative outlook including Crédit Agricole and Société Générale.

Profile: the Frenchman who nearly broke the bank

Wed, 24 Oct 2012 20:03:17 +0200

Jérôme Kerviel, who lost his appeal Wednesday against a three-year jail term and a €4.9-billion fine for his part in France's biggest rogue-trading scandal, casts himself as a simple soul caught up in an orgy of greed.

Soc Gen rogue trader Kerviel loses appeal

Wed, 24 Oct 2012 15:58:00 +0200

A French court rejected an appeal Wednesday by rogue trader Jérôme Kerviel against the three-year jail term and €4.9 billion fine he got in a fraud case that nearly ruined Société Générale bank.

Soc Gen offloads Greek subsidiary

Fri, 19 Oct 2012 18:27:00 +0200

French bank Société Générale said on Friday that it had finalised the sale of its Greek Geniki unit to the Bank of Piraeus, also of Greece.

Appeal hearing opens for French rogue trader

Mon, 04 Jun 2012 11:31:00 +0200

Jérôme Kerviel, the rogue trader whose misplaced gambles almost brought the leading French bank Société Générale to its knees, began his appeal Monday against a 2010 conviction for breach of trust and forgery.

Bank seeks damages from Mail on Sunday

Tue, 13 Sep 2011 11:23:00 +0200

As French bank Société Générale lost another 10 percent of its stock market value on Monday, reports emerged the bank was planning to sue British newspaper The Mail on Sunday over an article it published in August.

French banks face downgrade threat

Mon, 12 Sep 2011 11:36:21 +0200

There are fears that France's three largest banks may have their credit ratings cut this week by ratings agency Moody's, according to reports over the weekend.

Societe Generale profits hit by Greek debt

Wed, 03 Aug 2011 16:49:26 +0200

French banking giant Societe Generale said on Wednesday its second-quarter net profit slumped 31 percent as it took a charge for its exposure to Greek debt and warned of a difficult 2012.