Societe Generale announces that it will cease its banking and insurance activities in Russia

Societe Generale announces that it will cease its banking and insurance activities in Russia.

Societe Generale announces this Monday morning to cease its banking and insurance activities in Russia.

“Societe Generale ceases its banking and insurance activities in Russia, and announces the signing of an agreement to sell its entire stake in Rosbank as well as its insurance subsidiaries in Russia to Interros Capital, the previous shareholder of Rosbank,” the group announced in a press release.

“With this agreement, concluded after several weeks of intensive work, the group would withdraw in an effective and orderly manner from Russia while ensuring continuity for its employees and customers”, specifies the French bank.

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