UPDATE 1-SocGen's Q4 results to be hit by tough market conditions [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
UPDATE 1-SocGen's Q4 results to be hit by tough market conditions * Lender to book 240 mln euros in asset sales-related charge * Tough market conditions to hit CIB arm * Sees flat dividend (Adds detail and background) By Sudip Kar-Gupta PARIS, Jan 17 (Reuters) - French bank Societe Generale said its fourth-quarter results would be affected by tough market conditions and the impact of some asset sales, as lenders around the world grapple with financial market volatility. “The challenging market environment in global capital markets is expected to result in a decline in global markets and investor services revenue of approximately 20 percent in Q4 2018 versus Q4 2017 and of approximately 10 percent in 2018 vs. 2017, as well as a significant increase in market risk weighted assets,” SocGen said in a statement. SocGen added it would book a one-off charge of 240 million euros ($273.31 million) as a result of some disposals carried out, such as the sale of SocGen Serbia and its stake in La
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