SocGen posts second-quarter loss after taking 3.3 billion euro hit on Russia exit
SocGen posts second-quarter loss after taking 3.3 billion euro hit on Russia exit
Societe Generale on Wednesday reported better-than-expected earnings despite taking a 3.3 billion euro ($3.36 billion) hit from exiting its Russian operations. The French lender saw every unit grow in the second quarter, which helped offset the impact of its departure from Russia in the wake of Moscow’s Ukraine invasion. Analysts estimated a net loss of 2.85 billion euros for the quarter,…
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