French bank Societe Generale SA reported more than double net earnings more in the fourth quarter with the help of international retail and private banking operations profit.

The bank reported net profit of Euro221 million during the fourth quarter, up from euro87 million a year earlier despite slightly lower revenue because company's international retail and private banking and investment management divisions return to profit of 623 million euro against the loss of euro 1.9 million for the same period of previous financial year.

Bank's provisions against losses on its US residential retail assets and other bad debts hit hard to the earnings of the company as it booked provision of 1.9 billion euro during the quarter well above the expectation.

The bank booked a capital gain of 732 million euro realized from the sale of a stake in its asset management business to French bank Credit Agricole SA last year. Bank has also increased the capital by 4.8 million euro to pay back government bailout funds and strengthen SocGen's capital position and fund the acquisition of French retail bank Credit du Nord from Franco-Belgan lender Dexia SA.

According to Executive Frederic Oudea, "The bank will continue during 2010 with the process of transforming and adapting the company to a changing economic and regulatory environment."