The financial statements of the French Societe Generale Bank showed that the bank achieved a net loss of 1.26 billion euros, equivalent to approximately 1.48 billion dollars in the second quarter of 2020, in exchange for profits worth 1.05 billion euros for the same period in 2019.

The analysts had expected that the bank would record a quarterly profit of 139 million euros during the second quarter of 2020, but it appears that the Corona virus pandemic crisis affected the bank Frenchman and influenced his quarterly results.

(Societe Generale) revenue fell by about 16% in the second quarter of this year on an annual basis, to reach 5.30 billion euros.

According to analysts' estimates, the bank was expected to achieve returns of 5.45 billion euros during the second quarter of this year.

According to the results of the business, revenue from share trading declined by about 80% in the second quarter on an annual basis.

The French third largest by assets allocated 1.28 billion euros in loan losses, which represents a sharp increase from the 314 million euros allocated to the same period in 2019. p>

(Fun Knowledge of Knowledge)