TIMELINE-SocGen misses Q3 profit forecast
Nov 4 (Reuters) - Societe Generale (SOGN.PA) missed third-quarter net profit forecasts on Wednesday, although renewed bid speculation boosted its shares. [ID:nL3620732]
SocGen last year unveiled 4.9 billion euros ($6.4 billion) of losses caused by unauthorised trading. Here is a timeline of recent events at the bank:
2008
Jan 24 - SocGen says it has uncovered a fraud involving junior trader Jerome Kerviel, resulting in losses of 4.9 billion euros.
Jan 25 - French police carry out searches of the home of Kerviel and of SocGen's headquarters. Kerviel is taken into police custody the next day.
Jan 30 - SocGen Chief Executive Daniel Bouton says the bank has enough capital to stay independent.
Feb 8 - Kerviel is jailed.
Feb 20 - An internal investigation into the massive trading loss finds controls at the bank lacked depth.
Feb 21 - SocGen confirms a record fourth-quarter loss of 3.35 billion euros.
March 18 - Kerviel wins legal battle against detention and leaves jail after five weeks.
April 17 - SocGen says Bouton is relinquishing his job as chief executive but will stay on as chairman of the board.
May 23 - Kerviel may have had internal help when he built up massive stock market bets, a report by SocGen says.
May 27 - Angry shareholders at an annual general meeting jeer at Bouton and liken the bank to a "casino".
July 4 - France's Banking Commission fines SocGen 4 million euros for serious breaches in internal controls.
Oct 20 - Economy minister Christine Lagarde announces the injection of 10.5 billion euros in banks by year-end; SocGen to receive 1.7 billion.
2009
March 20 - President Nicolas Sarkozy criticises SocGen for awarding stock options to top executives after it had taken government aid.
March 22 - SocGen says four of its bosses, including Bouton, will give up stock options they had awarded themselves.
April 29 - Bouton says he will resign as chairman on May 6.
May 7 - SocGen slumps to a surprise first quarter loss of 278 million euros from a year-before profit of 1.1 billion.
June 4 - A French state fund set up to help the country's banks get through the financial crisis holds 7.2 percent of the capital of SocGen, the AMF market watchdog says.
July 9 - SocGen and Credit Agricole (CAGR.PA) agree to merge their asset management arms and create a top 10 global player with 591 billion euros ($871.4 billion) of assets under management.
Aug 5 - SocGen beats forecasts with a second-quarter net profit of 309 million euros.
Aug 31 - Kerviel charged with fraud and breach of trust among other things and ordered to stand trial.
Oct 6 - SocGen unveils a 4.8 billion euro ($7 billion) capital hike to repay state support and pursue acquisitions.
Nov 4 - SocGen doubles third-quarter net profit to 426 million euros but misses forecasts and says the outlook remains uncertain.
(Writing by Jijo Jacob, Bangalore Editorial Reference Unit, and David Cutler, London Editorial Reference Unit; Editing by David Holmes) ($1=.6782 Euro)
