Société Générale, France’s second largest bank, returned to profitability in the second quarter, as strong performances from its retail and investment banking units helped offset balance sheet writedowns and weakness in its Russian retail banking division.

Net profit was €309m ($444m), 52 per cent less than in the same period of 2008, but exceeding analysts’ expectations for a €122m profit and marking a rebound from the group’s first-quarter loss.