The French bank Societe Generale announced on Monday "
to cease its activities
" in Russia and will sell all of its stake in Rosbank, a heavyweight in the Russian banking sector, as well as its insurance subsidiaries in the country, according to a press release.
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This “
envisaged transaction should lead
” to a negative impact in its accounts of 3.1 billion euros, specifies the bank which has continued its activities in Russia since the start of the invasion of Ukraine on February 24.