LONDON – Societe Generale said on Thursday that its Russian unit Rosbank continued to operate normally and that the French banking group was complying with “all applicable regulations”.
“Rosbank continues to operate in a normal manner within the reinforced oversight framework”, Societe Generale said in a statement.
“Rosbank is a Russian bank with mainly local activities and we are confident in our ability to ensure the activity for our clients and to adapt where necessary”, it also said, adding it was closely monitoring the situation and seeking to support clients and employees.
Russian forces invaded Ukraine by land, air and sea on Thursday in the biggest attack by one state against another in Europe since World War Two.
(Reporting by Julien Ponthus; Editing by Saikat Chatterjee)