SocGen (SCGLY.PK) is 9% higher in Paris after reporting a sharp drop in profit from marks taken...

|By:, SA News Editor

SocGen (SCGLY.PK) is 9% higher in Paris after reporting a sharp drop in profit from marks taken on its Greek holdings.The lender will eliminate its 2011 dividend and speed up asset sales as it focuses on hitting and even exceeding the new 9% capital ratio required by 2013's end. Shares -53% YTD.