March 28, 2013 / 2:41 PM / 5 years ago

SocGen closes $2 bln sale of Egypt unit

PARIS, March 28 (Reuters) - Societe Generale said on Thursday it finalised the sale of its entire stake in Egyptian subsidiary National Societe Generale Bank (NSGB) to Qatar National Bank for $2 billion.

The French bank said it would book a net gain of 370 million euros ($473 million) in the first quarter on the deal, which it said would increase the group’s Basel 3 Core Tier 1 ratio by 29 basis points on a pro forma basis at the end of 2013. ($1 = 0.7824 euros) (Reporting by Lionel Laurent; Editing by James Regan)

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