November 5, 2018 / 6:28 AM / 10 days ago

SocGen to sell Polish arm Euro Bank to Bank Millennium

PARIS, Nov 5 (Reuters) - French bank Societe Generale agreed to sell its Polish unit Euro Bank to Bank Millennium, as part of its plans to divest non-core assets to focus on its core businesses.

The sale will lead to a 2 billion euros ($2.3 billion) reduction in its risk weighted assets and improve its core tier-one capital ratio by 8 basis points, SocGen said. The deal is expected to close in the first half of 2019. ($1 = 0.8781 euros) (Reporting by Sudip Kar-Gupta; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below