Societe Generale weighs Polish unit Eurobank sale – Reports

June 13, 2018 7:30 AM

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Mubasher: France’s Societe Generale is considering to sell Eurobank, its division in Poland, as pressures from competitors and regulators weighs, according to news reports.

Societe Generale’s Polish unit is currently in a sale process, as the French lender will be withdrawing from retail banking activities in the country, investment bankers told Reuters on Tuesday.

However, a spokesman for Societe Generale withheld from commenting “on market rumours,” the news agency said.

It is worth noting that Eurobank is the 17th largest bank in Poland, with assets of 14 billion Polish zloty (PLN) ($3.84 billion, while it generated PLN 103 million ($28.25 million) last year in net profits.


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