July 30, 2018 / 3:50 PM / in 9 months

SocGen Sells private banking unit in Belgium to ABN AMRO

PARIS, July 30 (Reuters) - French bank Societe Generale said on Monday it agreed to sell its Belgian private banking unit to Dutch bank ABN AMRO as part of its strategy to dispose of operations that lack critical size and potential for synergies within the group.

Societe Generale didn’t disclose the amount of the transaction but said the sale will have a “limited positive impact on the Group’s core equity tier one ratio.” (Reporting by Inti Landauro Editing by Geert De Clercq)

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