Societe Generale beat forecasts for first-quarter profit, helped by investment banking, and predicted a lasting rebound in 2010.
Societe Generale also said its exposure to Greek sovereign debt was 3 billion euros ($4 billion), a day after its share price fell to a two-month low amid market turmoil over Greece.

“Societe Generale is confident of being able to achieve its targets for 2010…It anticipates a sustainable rebound,” it said on Wednesday.

The bank is “comfortable” it can meet forecasts for 2010 profit, or 3 billion euros, a spokeswoman said.

The group is a month away from an expected unveiling of its future strategy as it tries to navigate market volatility and uncertainty in key international markets like Eastern Europe and Greece.

Societe Generale reported first-quarter net profit of 1.1 billion euros, above a forecast for 614 million in a Reuters poll.

Corporate and investment banking netted 541 million euros in quarterly earnings, as improved financial market conditions helped boost equities revenues and reduce the amount of writedowns on toxic assets. In the first quarter of 2009, Societe Generale had reported a loss of 278 million euros