Societe Generale announces exit from Russian market

Societe Generale SA said Monday that it will cease its banking and insurance activities in Russia, including selling Rosbank, Report informs, citing the bank's statement.

"With this agreement, concluded after several weeks of intensive work, the Group would exit in an effective and orderly manner from Russia, ensuring continuity for its employees and clients," the bank said.

According to the bank, the closing of this operation should occur in the coming weeks.