Posts tagged 'Pravdollars'

Socgen remains committed to Russia (just in case you were wondering)

As the FT reports on Wedneday, France’s Socgen has taken a €525m writedown on the goodwill of its Russian assets, becoming the first big Western bank to suffer significant financial damage from the crisis in Ukraine.

The losses emanate mostly from the bank’s rouble exposure and its ownership of the Rosbank subsidiary, which accounts for 5 per cent of the group’s total revenues. Read more