Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Societe Generale
Societe Generale
Societe Generale is a French multinational investment bank and financial services company headquartered in Paris, France.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500Glob.Revenue, mln.USD
28201
Currently, Societe Generale is one of the three largest foreign banks in the Russian market. In Russia, it has several subsidiary commercial banks. Russian President Vladimir Putin authorized Rosbank to acquire Societe Generale's shares in VTB, Rosneft, Gazprom, Nornickel and other Russian companies.
The Company Statement
July 11, 2022
Societe Generale ceases its banking and insurance activities in Russia and announces the signing of a sale and purchase agreement to sell its entire stake in Rosbank and the Group’s Russian insurance subsidiaries to Interros Capital. The French Societe Generale estimated the loss from the sale of its bank in the Russian Federation at 3.3 billion euros. At the end of July 2024, the French group Societe Generale closed positions related to the group’s presence in Russia through Rosbank, receiving 301 million euros from the deal, according to the group’s financial statements.
| September 05, 2024 | ‘They Have Stolen Our Business’: When You Leave Russia, Putin Sets the Terms |
| August 01, 2024 | Societe Generale received 301 million euros, finally closing Russian positions |
| December 24, 2023 | Putin allowed Rosbank to buy shares of Russian companies from Societe Generale |
| November 09, 2023 | Russia’s New Elite Emerges to Fill Void After Multinationals Flee |
| August 07, 2023 | FT: The largest European companies have lost 100 billion euros in Russia since the start of the war in Ukraine |
| August 07, 2023 | FT estimated the damage to European companies since the beginning of the conflict in Ukraine at €100 billion |
| August 06, 2023 | European companies suffer €100bn hit from Russia operations |
| June 27, 2023 | ECB Urges Banks to Speed Up Plans to Exit or Shrink Russia Units |
| February 22, 2023 | Societe Generale in negotiations to sell ALD's assets in Russia |
| January 26, 2023 | Letter sent by B4Ukraine to the company (no response provided) |
| August 03, 2022 | The French Societe Generale estimated the loss from the sale of its bank in the Russian Federation at 3.3 billion euros |
| July 11, 2022 | https://www.societegenerale.com/en/news/press-release/closing-sale-rosbank-and-its-subsidiaries |
| May 22, 2022 | Société Générale to exit Russia with sale of Rosbank to oligarch |
| April 21, 2022 | Companies Find Leaving Russia Difficult, Though Many Are Trying |
| March 03, 2022 | UPDATE ON THE GROUP’S CURRENT SITUATION IN UKRAINE AND RUSSIA |
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