SocGen beats expectations in Q3, raises provision guidance for 2021

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France’s third-largest listed lender, after BNP Paribas (OTC:BNPQY) and Credit Agricole (OTC:CRARY) SA, said its net income has nearly doubled in the quarter to 1.6 billion euros from 862 million a year earlier, beating a mean forecast for 952 million in a poll of analysts compiled by Refinitiv.

SocGen also said in a statement it was launching a share buyback programme of around 470 million euros.