LONDON (Reuters) - French banking Societe Generale (PA:SOGN) said on Monday that it had implemented measures to adapt to the new sanctions imposed against Russia and that it's Russian unit Rosbank continued to operate in a "safe manner".
"Societe Generale strictly complies with all applicable regulations", the bank stated, adding that "in a more and more complicated context, Rosbank continues to operate in a safe manner while adapting its operating methods, where necessary, and to provide the best service to its clients".
"Our exposure to the risks generated by this conflict and the international sanctions imposed against Russia is limited, as Rosbank represents less than 2% of Societe Generale Group's exposure and 2021 net income", it also said.