Societe Generale may pare gain in net with charge

Article Abstract:

Societe Generale SA announced that its net profit in 1998 increased 15% to 1.07 billion euros ($1.18 billion). The bank's profits were led by its retail banking and asset management businesses. Societe Generale said however, that it would take a 398 million euro restructuring provision in its 1998 figures if its proposed merger with Paribas SA takes place. This would reduce the firm's final 1998 net profit to 675 million euros. This translates into a 28% decline compared to 1997.

Comment:

Net profit in 1998 increases 15% to 1.07 billion euros ($1.18 billion; co might reduce gain with charge

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Societe Generale says EPS growth will exceed 20%

Article Abstract:

Societe Generale SA announced that it is predicting to see annual earnings per share growth of over 20% through the year 2001. The bank also introduced plans for a share repurchase valued at 2 billion euros. Societe Generale's profit prediction and share repurchase are intended to show that it is a stable bank following its successful fight to prevent a hostile takeover by Banque National de Paris SA.

Comment:

Predicts to see annual earnings per share growth of over 20% through the year 2001

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