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The “Russian risk” causes banks to fall on the stock market

2022-03-04T20:55:49.286Z


Between possible expropriation and payment defaults, the European financial sector is preparing to suffer significant losses.


European banks experienced a new descent into hell on the stock market on Friday.

The Euro Stoxx sector index plunged —%.

In Paris, all establishments were swept away by the wave, but, once again, it was Societe Generale, the most present in Russia, which recorded the largest drop (-10%).

Since the start of the Russian invasion of Ukraine, the bank has lost 30% of its value.

See also

Economic sanctions against Russia: what you need to know

“Investors are worried about the losses that banks exposed to Russia will suffer as a result of the sanctions and its banishment from the global economy

, explains Flora Bocahut, analyst at Jefferies.

But, at this stage, these losses are very difficult to assess and they will be of a different nature.

In fact, the risks incurred by institutions are multiple.

The most exposed in the euro zone are those that have a subsidiary in Russia.

There are only three left: the Austrian banking group Raiffeisen, the Italian UniCredit and Société Générale.

The latter said…

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Source: lefigaro

All business articles on 2022-03-04

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