SocGen shares jump after reaching deal to exit Russia
Societe Generale SA said Monday that it will cease its banking and insurance activities in Russia, including selling Rosbank, as it exits the country after its invasion of Ukraine.
The impact of the disposal of Rosbank and the insurance activities on the bank’s CET1 capital-buffer ratio is expected to be around 20 basis points, though the Paris-based bank said it would remain comfortably above its own guidance. The CET1 ratio was 13.7% at the end of last year. French peers BNP Paribas SA BNP, +3.70% and Credit Agricole SA ACA, +1.35%, which have considerably smaller exposures to Russia, have said in recent weeks they will stop doing new business in the country.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen: