SocGen fourth-quarter profits fall 89% Reuters (Paris) - Société Générale, France's second-biggest listed bank, said on Thursday quarterly profit fell by a worse-than-expected 88.6 per cent, hit by toxic assets at its investment bank and further writedowns on its Greek sovereign debt. The bank said however that it had met tougher regulatory capital requirements six months early, with a core tier one ratio - a key measure of financial strength - of 9 per cent under Basel 2.5, following in the footsteps of larger rival BNP Paribas. SocGen had already warned it would not pay a dividend for 2011 to meet these targets. SocGen said fourth-quarter profits fell from €874m a year earlier to €100m, missing forecasts for €190m according to a Reuters poll of 10 analysts. Revenues fell 12.4 per cent to €6.01bn, beating forecasts of €5.81bn. The bank took a €162m charge on its Greek sovereign debt, which it has now provisioned to 75 per cent. SocGen's key corporate and investment bank division fell to a net quarterly loss of €482m. The falling value of toxic assets left over from the financial crisis, as well as the impact of the eurozone crisis on markets, cut the division's revenues by two thirds.