PARIS - Société Générale, a major French bank, said Monday that soured derivatives deals would cost it Euro1.3 billion, or about about $1.8 billion, in the second quarter. But it said strong results in other businesses would still allow it to post a small net profit. The bank, based in Paris, said in a preliminary statement that its net banking income would be hurt by the negative impact from credit default swaps "used to hedge its loan portfolio and from debt instruments issued by the group and...
Full Story: The New York Times
