October 16, 2019 / 2:04 PM / a month ago

SocGen offloads $3.4 bln eur of risk in deal with Mariner Investment Group

PARIS, Oct 16 (Reuters) - Societe Generale said on Wednesday it transferred $3.4 billion of risk linked to a portfolio of 250 loans to hedge fund Mariner Investment Group, as the French bank continued to clean up its balance sheet in a bid to strengthen capital ratios.

France’s third-biggest bank has said it would cuts costs and reduce the volume of risk on its balance sheet linked to its investment banking operations. (Reporting by Maya Nikolaeva, editing by Deepa Babington)

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