Wednesday, March 22

SocGen shares rebound as French bank says it has enough cash to absorb Russia worst case scenario

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PARIS — Shares in French lender Societe Generale rose in early trading on Thursday and were up nearly 2% at 0805 GMT after the bank said it could cope if stripped of Russian assets.

Shares in Societe Generale, one of Europe’s most active banks in Russia, have fallen sharply after the Ukraine war triggered massive international sanctions.

The stock remains down by around 20% since the start of 2022. (Reporting by Tassilo Hummel; Editing by Sudip Kar-Gupta)