PARIS (dpa-AFX) - French lender Societe Generale SA (SCGLF.PK, SCGLY.PK) reported Thursday that its fourth-quarter Group net income declined 4.6 percent to 654 million euros from last year's 685 million euros.
Underlying Group net income was 875 million euros, compared to 805 million euros last year. Operating income grew 21.1 percent from last year to 1.34 billion euros.
Net banking income for the quarter increased 4.8 percent to 6.21 billion euros from prior year's 5.93 billion euros.
Further, the company said its Board of Directors has decided to propose the payment of a dividend of 2.20 euros per share in cash.
Looking ahead for fiscal 2020, the company expects group net income to be higher than in 2019. The company projects slight growth in revenues in the current environment, decline in operating expenses, and decline in the cost to income ratio.
Copyright RTT News/dpa-AFX