Societe Generale finds more toxic assets

13/01/10 19:55 CET

corporate

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It may be too soon to declare the financial crisis over as Societe Generale has issued a profit warning.

France’s second largest bank said assets that it though were worth 1.4 billion euros are not.

As a result it expects to report only a “slight profit” for the fourth quarter of 2009.

Some analysts said SocGen has been lagging behind other international banks in facing up to the issue of toxic assets.

More about: Banking, Societe Generale

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