Societe Generale First-Quarter Net Profit Jumps

Societe Generale SA (ADR) SCGLY reported a surge in its net profit for the first quarter. Societe Generale's quarterly net profit rose to EUR868 million ($972.32 million), versus EUR169 million in the year-ago period. Net banking income rose to EUR6.35 billion from EUR5.66 billion. Net income at the company's global banking and investor solutions division climbed 21 percent to EUR522 million. Societe Generale shares fell 0.89 percent to close at $10.03 yesterday.