Saturday , June 12 2021

Companies | Societe Generale sells its bank to Bank Millennium



According to Reuters, Poland's Millennium Bank signed an agreement to purchase 99.8% of the capital of Societe Generale. In early June, the French banking group of Eurobanking Banker was in Europe's pipeline. The agreement, which is part of SocGen's focus on the launch of key non-key assets and focus on core business, has boosted the strong tendency of the Polish banking sector to consolidate over the past few years. At the beginning of the day, the Eurobank 's interest was also shown in the grammy, the grig, the grig, the griggrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgrgr It was the was was was was was the one that was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was was there was was was was was was was was was was was was was was was was was was was was was was … More Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro Euro

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The deal will cut the value of Societe Generale's risky assets by 2 billion euros. US $increased its capital by 8 basis points. Value 1,83 billion zlotis ($ 484 million) and 2019 are expected to be completed in the first half. Moreover, the Polish financial market regulator continues to be approved by the KNF and anti-trust authorities.

Eurobank 17th largest Polish bank with assets over 14 mJPL. złoty (3.82 mJPL. dollar) and PKO are 20 times smaller than BP's largest creditors. Last year, the net profit was 103 million zlotys. Bank Millennium Bank is part of the Millennium Group financial group and In addition, Millennium Leasing, Millennium Dom Maklerski and Millennium Towarzystwo Funduszy Inwestycyjnych, including mutual funds, savings plans and pension plans.he said he plans to issue new shares to finance the deal.

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Societe Generale says it will continue to offer corporate and investment banking services in PolandIf s Global Banking and Investor Solutions will continue in the country with various other activities.

Earlier this year, the French bank officially announced its assets in Bulgaria and Societe Generale Expressbank. Receiver The Hungarian OTP Bank, the owner of DSK Bank, has a close value of 1 billion BGN.

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