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SocGen CEO: No specific lawsuit behind provision
February 13, 2013 / 9:18 AM / 5 years ago

SocGen CEO: No specific lawsuit behind provision

PARIS (Reuters) - Societe Generale Chief Executive Frederic Oudea said the bank had taken a 300 million euros legal provision as a general precaution rather than because of a specific lawsuit.

“There is no specific litigation,” he told journalists.

SocGen has also begun repaying cheap LTRO funds borrowed from the European Central Bank, Oudea added.

Reporting by Lionel Laurent; Editing by Christian Plumb

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