SocGen seen swinging to quarterly loss

France’s No. 2 listed bank, Societe Generale, is seen reporting a well-flagged fourth-quarter loss later on Wednesday, driven by one-off charges, and is also expected to name a new chief financial officer.

The bank’s outgoing chief financial officer, Bertrand Badre, last month warned analysts that a combination of rising loan losses in France, accounting losses on the bank’s own debt and a writedown on the value of brokerage joint-venture Newedge would eat up profits.

via Business feed http://www.scmp.com/business/banking-finance/article/1149229/socgen-seen-swinging-quarterly-loss