The stock price of FAXING Bank reaches a new high since the 2008 financial crisis. It previously announced a dividend distribution plan and raised profit outlook.

French bank Societe Generale said it will increase investor dividends and achieve a new high in stock prices since the financial crisis after raising its profit guidance. The French bank announced in a statement on Thursday that it will repurchase 1 billion euros of shares and distribute a mid-term cash dividend. The first mid-term dividend will be 0.61 euros per share, to be distributed in October. The bank's net profit in the second quarter was 1.45 billion euros, exceeding analysts' expectations. Societe Generale said it expects a return on tangible equity of around 9% this year, higher than the previous expectation of over 8%. After the opening of the Paris stock market on Thursday, the company's stock price briefly rose by 8.5% to its highest level since 2008, reaching 56.35 euros as of 9:06 am. European bank stocks rallied.