Societe Generale announces its withdrawal from Russia and the sale of its shares in Rosbank

PARIS (Agefi-Dow Jones)–Societe Generale announced on Monday that it has ceased its banking and insurance activities in Russia, and has reached an agreement to sell its entire stake in its Russian subsidiary Rosbank and the subsidiaries of insurance of the latter to Interros Capital.

“The impact of the divestment of Rosbank and the Russian insurance business on the group’s CET1 capital ratio is expected to be around 20 basis points based on equity value as of December 31, 2021,” the company said. French bank in a press release.

-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: VLV

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April 11, 2022 02:13 ET (06:13 GMT)