Société Générale has issued a profit warning as a result of a €1.4bn (£1.2bn) fallout from toxic assets. The French banking giant's results reflect the severity of the damage of the subprime mortgage crisis in 2008, as shares in the bank tumbled more than 4% to €49.60 in early Paris trading, the FT reports. In a statement released today, the bank remains positive that it is in a more favourable position for 2010. 'Thanks to strong customer franchises, with significant growth potential, a robust financial structure and a new management team, Société Générale is in a favourable position to go into 2010 with confidence,' it said. It said it has reduced its market risk significantly, and strengthened its financial structure through the €4.8bn capital increase in October.