Societe Generale Private Banking reports €116.5bn AUM

Societe Generale has reported that its private banking subsidiary has €116.5bn in assets under management at end-June 2015, up 0.7% compared with H1 2014.

The firm explained that positive net inflows and favourable market effects have contributed to the growth.

Net banking income has risen by 2.1% in Q2 2015 and 11% in H1 15 to €440 m.

Societe Generale said that the revenues of the asset and wealth management business have totalled €258m in Q2 2015, stable in absolute terms versus Q2 2014.

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