BPCE estimates its exposure to Ukraine and Russia at €851 million


PARIS, March 7 (Reuters) – BCPE’s exposure to Russia and Ukraine amounts to 851 million euros, the banking group said on Monday, adding that it was following “very closely” the evolution of the conflict between the two countries.

Net banking exposures, both on and off balance sheet, amounted to €788 million for Russia, where the group is exposed mainly through financing activities, and €63 million for Ukraine.

“These exposures are very limited given the 889 billion euros in gross outstanding loans and receivables at amortized cost of the BPCE group as of December 31, 2021,” the group said in a press release.

Societe Generale, the French bank most exposed to Russia, estimated its exposure in the country at 18.6 billion euros.

For its part, Crédit Agricole said on Monday it had an exposure of 6.7 billion euros to Russia and Ukraine on the basis of its commercial commitments. BNP Paribas, for its part, indicated that it had residual net exposure to Russia and Ukraine of approximately 500 million euros.

(Report Blandine Hénault, edited by Bertrand Boucey)


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