Societe GeneraleIt posted its largest ever profit for 2021, beating analyst expectations.

The lender reported a net income of 5.64 billion euros ($6.44 billion) for the full year 2021. Refinitiv reports that analysts expected net income of 4.4 billion euros over the same period.

If you look at the quarterly figures, it is clear that the French bank had a net income in excess of 1.3 billion euros for the last three months of 2021.

Frederic Oudea was the chief executive of the bank. He stated that 2021 marked a significant milestone for Societe Generale Group. It achieved its best financial results ever.

Strong performance by SocGen’s global bank and investor solutions division gave the results a boost. Net banking income increased 25% over last year.

According to the bank, “Equity activity experienced its best year ever since 2009” and that revenues reached 3.15million euros in 2021, as opposed to 1.275million euros in 2020.

SocGen’s wealth and asset management divisions reported an increase in revenue each year of 6.1%.

The bank’s revenue from currency and fixed income activities declined 19.2% over the past year. However, it was partially offset by other areas of its global banking division.

The fourth quarter also featured some highlights:

• In comparison to a year earlier, the group’s revenues were 6.6 Billion Euros. This is 13.4% more.
• Comparable to a year earlier, operating expenses increased by 4.9%.
• A measure of bank liquidity, the CET 1 ratio reached 13.7%.