BNP net rose 78% in quarter, beating rivals

Article Abstract:

Banque Nationale de Paris SA reported 1st quarter 1999 net income of 536 million euros (US$576.8 milion), a jump of 78% over 1st quarter 1998. Societe General's 1st quarter 1999 earnings, at 576 million euros, were higher than BNP's, but SG only gained a 52% increase in profits over 1st quarter 1998. Paribas reported 1st quarter 1999 net earnings of 565 million euros, with profit growth of 43% over 1st quarter 1998. All three of the banks were reporting first quarter earnings for the first time, in efforts to sway shareholders' opinions on BNP's unsolicited $37 billion takeover bids for Societe General and Paribas.

Commercial Banking, Commercial banks, Banque Nationale de Paris (Paris, France), Paribas S.A.

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French bank rocked by rogue trader: Societe Generale blames $7.2 billion in losses on a quiet 31-year-old

Article Abstract:

French bank Societe Generale S.A. has lost $7.2 bil due to large unauthorized trades made by a 31-year-old trader, Jerome Kerviel. Kerviel disguised the trades via computer hacking. Societe Generale is now seeking a capital infusion drawn primarily from its shareholders.

Legal issues & crime, Financial management, Executive changes & profiles, Officials and employees, Company legal issue, Investigations, Company financing, Kerviel, Jerome

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Societe Generale's net tumbles

Article Abstract:

Societe Generale S.A. posted a fall of 18% in its net profits for the 2002 fourth quarter. The firm posted 364 million euros in net profits for the quarter.

Company sales and earnings, Company earnings/profit

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