SocGen lifts its outlook as loan worries fade, stocks rebound ...Qatar

Societe Generale SA gave an upbeat outlook for the year as the economic recovery allows it to set aside less for soured loans and a rebound in equities trading fuelled earnings that beat analysts’ estimates. The Paris-based lender expects to set aside 10 basis points less – equal to about €500mn ($593mn) – for souring debt than it had planned. It also predicted business will increase in all units, after revenue and net income for the bank as a whole blew past analysts’ estimates in the second quarter. SocGen hadn’t previously given such a detailed revenue outlook. The results so far this year “are the best for five years, illustrating the strength of the business model and the group’s capac

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