French bank Societe Generale’s headquarters in Paris.
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Societe Generale reported a net loss of 1.26 billion euros for the second quarter of the year, missing market expectations, as the bank set aside more capital due to the pandemic and reduced the value of its trading business.
Analysts had estimated a net loss of 13.6 million euros over that period, according to Refinitiv. The bank had seen a loss of 326 million euros in the first quarter.
The stock is down about 58% since the start of the year.