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Russia’s Oil Shakeout Shouldn’t Stir Banking Fears

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Societe Generale has total loans in Russia of 13 billion euros, mostly mortgage and car loans, which is only 3.7% of all lending. Loan loss provisions were increased 63% in 2014 to 243 million euros. BNP Paribas has reduced its lending to the energy industry, with market share declining from 6% in 2010 to 2.6%. ING Bank is also cutting back with Russian loans only 1.4% of total loans.

Russia risks of European banks in 2014

12/08/2014

Risks are not significant for Societe Generale and other banks with operations in Russia.

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Russia’s Oil Shakeout Shouldn’t Stir Banking Fears

Wall Street Journal 12/08/2014


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