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SocGen throws up strong results surprise

  Paris/ AFP French bank Societe Generale served investors a pleasant surprise with third-quarter results, sending its shares soaring. Although falling by 2.4 percent to 1.1 billion euros ($1.2 billion), net profit still came in well above analysts’ forecasts of 888 million euros according to Factset, a data provider. Shares in Societe Generale, France’s third largest bank after BNP Paribas ...

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Deutsche Bank to shrink UK office space post job cuts

  Bloomberg Deutsche Bank AG plans to move some workers from a City of London office building to the Canary Wharf district and sublease the excess space, according to two people familiar with the plan. The lender will shift at least half of the back-office staff from the Appold Street property to the Docklands office by the end of this ...

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Commerzbank suffers Q3 loss on overhaul costs

  Bloomberg Commerzbank AG said it expects to post a full-year profit after costs tied to Chief Executive Officer Martin Zielke’s overhaul pushed Germany’s second-largest lender into a third-quarter loss. The net loss of 288 million euros ($319 million) compares with a profit of 235 million euros a year earlier, the Frankfurt-based company said in a statement on Friday. Analysts ...

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