Société Générale joined its European peers in posting strong banking results from the second quarter and enjoyed a filip from the sale of a stake in competitor Crédit Lyonnais.

France's third largest bank posted record quarterly gross operating income of €1.5bn ($1.68bn), a 28% increase on the same period last year. Net income of €695m was 85% better over the same period and the group's return on equity almost doubled to 18.5%.