SOCIETE GENERALE COMPLETES ITS EXIT FROM RUSSIA (Rpt missing word §1) PARIS (Reuters) – Societe Generale announced on Wednesday the finalization of the sale of its activities in Russia, a transaction which will result in a residual negative impact of around seven points basis on its capital ratio and a net charge of approximately 3.2 billion euros. Following the Russian invasion of Ukraine, the French bank announced on April 11 the sale of its stake in Rosbank and its insurance subsidiaries to Interros Capital, a group linked to the oligarch Vladimir Potanin. It then estimated the impact of this sale on its CET1 solvency ratio at around 20 basis points, but the ruble has appreciated against the euro since this announcement. (Written by Bertrand Boucey, edited by Jean Terzian)
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