(Boursier.com) — Shaken since the beginning of the Russian offensive in Ukraine, the banking sector is regaining some color in the middle of the week… In Paris, the Societe Generale and BNP Paribas both soar by nearly 10%, in the first positions of the CAC40. After its counterparts from SocGen and the Agricultural creditthe rue d’Antin bank revealed this morning its exposure to Russia and Ukraine.
Gross balance sheet and off-balance sheet exposures to the two countries represent respectively 0.09% of the Group’s total commitments (approximately €1.7 billion) for Ukraine and 0.07% (approximately €1.3 billion ) for Russia as of December 31, 2021. Given the way in which the bank operates in these two markets and secures its activities with a significant level of guarantees and collateral, the combined net residual exposures of BNP Paribas for Russia and for Ukraine amounted to around 500 million euros.
An exposure deemed “limited” for the broker Citi, which also appreciates that the company has confirmed its financial objectives for 2025 despite the postponement of its March 14 investor day due to the situation in Ukraine.
Oddo BHF for its part adjusted its target to BNP Paribas from 74 to 68 euros while remaining to ‘outperform’.
©2022 Boursier.com