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SocGen says further cut Spain banking book exposure
September 26, 2012 / 8:06 AM / 5 years ago

SocGen says further cut Spain banking book exposure

PARIS, Sept 26 (Reuters) - Societe Generale said on Wednesday that it had further cut its exposure to Spanish sovereign debt, lowering it to 400 million euros ($518.50 million) by the end of August from 700 million at the end of June.

The reduction in Spanish sovereign exposure brought SocGen’s overall banking book exposure down to peripheral euro zone countries, which also include Ireland, Portugal, Greece and Italy, to 2.1 billion euros at the end of August, the French bank said in a slide presentation. ($1 = 0.7715 euros) (Reporting by Christian Plumb; Editing by Elena Berton)

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