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The
ruling by the Versailles Court of Appeals means the government
could reclaim a 2.2 billion euro ($2.47 billion) tax break that
SocGen benefited from, a move industry analysts have said would
put its dividend at risk and hurt its capital ratios.
Kerviel was sentenced to three years in prison after being
convicted by a Paris court in October 2010 of breach of trust
and fraud over 4.9 billion euros of losses from equity
derivatives trades in 2008.
Kerviel was initially ordered to repay the whole sum, but
subsequent rulings have struck down that decision. In June, a
public prosecutor said the bank "had left the door open" for
Kerviel to act illegally.
Earlier on Friday, Junior Budget Minister Christian Eckert told
Europe 1 radio: "We will act on the court judgments as soon as
we know what they are."
A lawyer for SocGen said the bank had "no worries" over the tax
deduction.
(Reporting by Jean-Baptiste Vey and Richard Lough, Editing by
Dominique Vidalon and Susan Thomas)
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