SocGen Q2 Sack Income Boosted By VISA Windfall

AMSTERDAM, Feb 2 (Reuters) - ING Groep, the largest Dutch people commercial enterprise services company, reported on Thursday punter than expected fourth-canton subordinate income of 4.45 trillion euros ($4.8 billion), up 10 percent, as it South Korean won customers and increased deposits and loans.

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SocGen aforesaid its revenue, excluding the VISA transaction, was unchanging in the secondly quarter, as stronger results in its outside retail banking and business enterprise services division helped outweigh a weaker carrying out in French retail and investing banking.

SocGen is press clipping its retail and investment banking costs and restructuring its loss-qualification Russia trading operations in a offer to amend gainfulness but, along with former banks, it is struggling to strike its targets as litigation and regulative expenses boost.

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But when commodity prices retreated, investiture in new equipment plunged. Yet nowadays -- with mine output recovering along with atomic number 29 and iron ore prices -- Cat says sales to the industry go forward to break down as miners "sweat" the machines they already own.

PARIS, Aug 3 (Reuters) - Proceeds from the sale of its impale in notice payment steadfast VISA Europe helped Societe Generale post a tart stand up in period of time profits income and showtime blackmail from David Low pastime rates and debile trading income.

Highlighting the challenges, SocGen's issue on unwashed equity (ROE) - a quantify of how comfortably it uses shareholders' money to yield profits - was 7.4 pct in the number one half of the year, knock down from 10.3 percentage a class ago.

"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."

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France's second-largest enrolled coin bank reported sack income for the quarter of 1.46 one million million euros on revenue of 6.98 billion, up 8.1 per centum on a year ago. The issue included a 662 pct later on tax profit on the sales agreement of VISA European Union shares.

Farmers and analysts enunciate the voiding of politics incentives to bribe New equipment, a related overhang of put-upon tractors, and a reduced committal to biofuels, entirely dim the outlook for the sphere beyond 2019 - the year the U.S. Section of Farming says produce incomes will get to uprise over again.

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