The private banking business of French bank Societe Generale has reported net banking income of EUR815m for the year ended 2014, up 2.1% compared to the year ago period.
The business’s assets under management were EUR108bn at 31 December 2014, which includes the assets under management of the new private banking model in France launched at the beginning of the year.
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The revenues of the bank’s asset and wealth management division, which contains private banking business line, totalled EUR1.03bn in 2014, down 3.2% year-on-year.
The division’s annual net banking income declined to EUR1.04bn from EUR1.07bn in 2013.
Overall, the banking group posted net banking income of EUR23.56bn for the year 2014, an increase of 5% compared with EUR22.44bn in 2013.
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