COMPANIES Société Générale yesterday offered evidence that the damage from the subprime crisis of 2008 had not yet run its course after warning it would barely make a net profit in the fourth quarter because of a €1.4bn ($2.03bn) hit on risky assets.
France's second biggest bank by market capitalisation confirmed that the slowdown in the fixed income market, flagged in November, had accelerated with net income at the corporate and investment banking unit expected to be lower in the final three months than in a depressed third quarter.
