Societe Generale on Wednesday reported a 31% drop in second-quarter net profit, missing analysts' forecasts, as France's second-largest bank set aside money for the Greek rescue plan and warned that its 2012 target could take longer to achieve.

Societe Generale said second-quarter net profit fell to €747m from €1.08bn in the same period of 2010, falling short of the average €993m analysts were expecting.

Societe Generale second quarter net profit falls

French bank warns it could take longer to achieve its 2012 net-profit target of €6bn after posting weaker than expected results

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Societe Generale

BNP Paribas

Moody's

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Find out who is on the move in the City and beyond this week

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The UK lender has given the leading compliance job to a 20-year veteran

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The UK lender has tapped a veteran dealmaker to head up a key area of growth

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The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

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The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

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The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

Larry Fink Says Regular Americans Need Private Assets Too

The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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