SocGen's Ivory Coast arm says H1 net profit drops 55 pct
ABIDJAN Oct 29 (Reuters) - The Ivorian unit of Societe Generale, SGBCI, said its first-half net profit fell 55 percent to 5.10 billion CFA francs ($10.72 million) because of bad debts.
Turnover fell 1 percent to 30.33 billion CFA francs, a statement on the West African BRVM stock exchange's website said on Tuesday.
It said it expected activity to rebound in the second half of the year and that net income for the full year was not expected to be less than that of 2012.
SGBCI earned 23.31 billion CFA francs last year, up 46 percent from 2011, the bank reported in June. ($1 = 475.8310 CFA francs) (Reporting by Loucoumane Coulibaly; writing by Bate Felix; editing by Tom Pfeiffer)
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