EU crisis $macks SocGen

Société Générale SA, France’s second-largest bank, said fourth-quarter profit fell 89 percent as the investment bank posted its first loss in two years.

Net income declined to 100 million euros ($130 million) from 874 million euros a year earlier, the Paris-based bank said.

That missed the 317 million-euro average estimate of 14 analysts surveyed by Bloomberg.

Société Générale’s corporate and investment bank had a 482 million-euro loss as Europe’s sovereign-debt crisis curbed client trading and the bank wrote down troubled assets.

Société Générale reiterated that it doesn’t plan to pay a dividend for 2011 as it accumulates capital.

Société Générale said it hasn’t decided whether to tap the ECB’s next round of funding.