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rdf:type	schema:NewsArticle
schema:articleBody	French banking giant Societe Thursday reported a return profit in the third quarter as it benefited from cost reductions and a rebound in activity after heavy losses due to the coronavirus pandemic. For the period July to September, the group posted a net profit of 862 million euros ($1.0 billion), up almost 1.0 percent from the same period in 2019, it said in a statement. This followed losses of 326 million euros in the first quarter and more than one billion euros in the second as the company struggled with the consequences of the economic crisis sparked by the coronavirus pandemic. The group reported a "rebound in revenues in all activities." The latest results "illustrate the ability of all our businesses to rebound, after the exceptional lockdown period that we have experienced, and to adapt to a still very uncertain environment," CEO Frederic Oudea said. "The performances reflect our efforts in terms of commercial development, cost control and rigorous risk management." During the first two quarters the bank was forced to make provisions on a massive scale against non-repayment of loans. The provisions continued in the third quarter but to a much lesser extent. It also improved profitability by significantly reducing management costs in all divisions. bt/ak/wdb/bmm
schema:headline	Societe Generale rebounds into Q3 profit
schema:mentions	BT Group French language Alaska Lockdown Chief executive officer Pandemic Coronavirus Société Générale Risk management
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-11-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	77 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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