Societe Generale (French Bank)

OK so Societe Generale ( French Major Bank FR0000130809 GLE) published some results :

Results seems ok from my point of view, net results increased from 2700Millins€ (2014) to 4000Millions € (2015)

Dividend is increased from 1.2€/actions to 2.€ per action (+67%)

However, an annoucement was made that the target ROE of 10% for 2016 is unlikely to be met ( ROE 2014 = 5.3% , ROE 2015= 7.9%)

Also, 400M€ was provisonned for potential litigation costs

see : (in french). Important figures first and last page

The shares went down -15% !! from 31.415 to 26.61 ( now back to 28 as of this writing)

Any idea what could motivate this massacre or more generally this volatility ? ( share were up +8.99% yesterday)

Bank of America (American Bank)

Deutsche Bank (Deutsche Bank)