The third quarter results for Paris bank Société Générale's Global Investment Management and Services division, which includes SG Private Banking and SG Asset Management, have revealed a strong performance. The bank highlighted the division, which also includes Société Générale Securities Services and online savings, as "one of the group's main development priorities". The company stated that the performance was essentially driven by the private banking unit, which had net new money of €1.7 billion ($2.2 billion) in the quarter, making €6.1 billion in the first nine months, with assets under management at €66 billion at the end of September. Net income was up around 12 per cent on Q3 2005 at €38 million, from €34 million and the nine months total 33 per cent up at €128 million. At SGAM assets under management reached €345 billion at the end of the quarter, a 13 per cent increase in the year, with net income down 4 per cent at €69 million.