The French banking group reported its financial results for 2019 and the fourth quarter of that year yesterday.

Societe Generale, the Paris-listed group, yesterday said that its asset and wealth management arms logged net banking income for 2019 at €947 million ($1.04 million), rising by 1.2 per cent on a year before.

The figure is adjusted for the sale of SocGen's Belgian private banking group, it said in a statement.

In the fourth quarter of last year, net banking income in the wealth and asset management business was €243 million, an 8.2 per cent year-on-year gain.

At the end of December last year, private banking assets under management rose by 1.4 per cent from the end of September 2019, reachin €119 billion.

Across the whole of SocGen, revenues rose by 4.8 per cent in Q4 from a year ago. Underlying group net income in Q4 rose by 8.7 per cent to €875 million from a year before.