France's Societe Generale &lt;SGEN.PA> bank,which will be sold to the private sector in the second half of
this year, reported increased profits for last year.
    Societe Generale, one of the three largest state-owned
banking groups, said in a statement that its parent company
profit for 1986 totalled 800 mln francs, up 21.2 pct on 1985's
660 mln profit.
    This was in line with earlier forecasts of profit of
between 770 and 800 mln francs.
    The bank's parent company gross operating profits were up
5.4 pct at 21.34 billion francs against 20.24 billion in 1985.
    The increase in the bank's gross operating profits was
mostly due to a rise in french franc deposits and personal
loans as well as the development of its financial activities,
Societe Generale said.
    Parent company net banking earnings last year were also up
at 13.9 billion francs compared with 13.57 billion in 1985
while operating costs totalled 7.44 billion francs against 6.67
billion the previous year.
    Societe Generale President Marc Vienot said in December he
expected group 1986 consolidated profits to rise to between 2.5
billion and 2.6 billion francs from 1.62 billion in 1985.
 Reuter
