A double digit rise in revenues at Societe Generale's fixed income trading business helped push revenues at its investment bank up 5.4% in the first quarter - but it failed to beat the impressive increases posted by French rival BNP Paribas during the period.

Revenues in SocGen's fixed income currencies and commodities business were up 12.8% in the three months ended March 31 to €777 million, according to its results announced today. Revenues for its equities trading business were up 4.1% year-on-year to €562 million.