The private banking arm of French bank Societe Generale continues to see good business in the second quarter, a senior SocGen executive was quoted by Dow Jones as saying.

"We've seen €1 billion of net inflows in May, the business is doing pretty well," Philippe Collas, who heads SocGen's Global Investment Management and Services division, said.

That unit includes the group's private banking operations and asset management unit.

Fund inflows spread geographically from Europe to Asia, including emerging markets, Mr Collas said.

The executive added that the trade scandal that cost the bank nearly €5 billion has had little impact on the private banking franchise. "People realise it was a one-time event," Mr Collas said.

SocGen sees further opportunities to expand through acquisitions, as it did most recently when it took a stake in Rockefeller Financial Services.

"There are good bargains to be done," Mr Collas said.

For the asset management unit, Mr Collas said outflows from its dynamic money market funds, which hurt first-quarter earnings, was "almost over."