Société Générale: two disposals in the Balkan states
(CercleFinance.com) - Société Générale announces the sale of Société Générale Montenegro to OTP Bank and Ohridska Banka Societe Generale (Macedonia) to Steiermärkische Sparkasse, which will impact its income by approximately -66 million euros, with this sum having already been included in its 2018 accounts.
The French banking group said that these transactions should have a positive effect estimated at around two basis points on its CET1 ratio and reduce its risk weighted assets by around 1.1 billion euros.
The closing of the sale of Societe Generale Montenegro and the launch of a mandatory takeover by Steiermärkische Sparkasse on Ohridska Banka Societe Generale are expected in the coming months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The French banking group said that these transactions should have a positive effect estimated at around two basis points on its CET1 ratio and reduce its risk weighted assets by around 1.1 billion euros.
The closing of the sale of Societe Generale Montenegro and the launch of a mandatory takeover by Steiermärkische Sparkasse on Ohridska Banka Societe Generale are expected in the coming months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.