SocGen's SG Finans Sale to Hit 4Q Results
December 19 2019 - 3:19AM
Dow Jones News
By Olivia Bugault
Societe Generale SA France (GLE.FR) said Thursday that the sale
of its Nordic financing unit SG Finans to Nordea Bank Abp
(NDAFI.HE) will hit its fourth-quarter 2019 results.
The French bank expects the transaction to have a negative
impact of roughly 100 million euros ($111.3 million) in its 4Q,
mainly due to "goodwill impairment and fixed asset
impairments."
Meanwhile, the transaction should have a positive impact on the
Group's CET1 ratio of about 10 basis points, it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
December 19, 2019 03:04 ET (08:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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