Société Générale: disposal of Euro Bank in Poland
(CercleFinance.com) - Société Générale announces that it has entered into an agreement for the sale of its Polish retail banking subsidiary Euro Bank to Bank Millennium, a deal that is expected to be finalised in the first half of 2019, subject to the usual authorisations.
Once finalised, this sale will reduce the group's weighted assets by about two billion euros and in all about an eight basis point improvement in its core Tier 1 ratio.
Société Générale will continue to offer its corporate and investment banking services in Poland, and will remain present in the country via ALD, its insurance business and services for the financing of capital goods for professional purposes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Once finalised, this sale will reduce the group's weighted assets by about two billion euros and in all about an eight basis point improvement in its core Tier 1 ratio.
Société Générale will continue to offer its corporate and investment banking services in Poland, and will remain present in the country via ALD, its insurance business and services for the financing of capital goods for professional purposes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.