SGSS first half figures out

Societe Generale reports in its first half results bulletin that Securities Services assets under custody amounted to EUR 4,012 billion at end-June 2016, up 1.0 percent year-on-year. Over the same period, assets under administration fell -4.0 percent to EUR 580 billion. Securities Services’ revenues were down -7.1 percent in Q2 16 vs. Q2 15 at EUR 171 million (and -11.5 percent in H1 16 vs. H1 15), due to a reduction in transactional activity, the decline in markets and a negative interest rate environment.

Societe Generale reports that it generated broad group net income of EUR 2,385 million, which it says is a sound result, achieved in challenging conditions.