Tuesday, Societe Generale SA (SCGLF.PK) signed a deal with the State of Cameroon to sell its subsidiary Société Générale Cameroun, bringing the latter's total stake to 83.68 percent. The financial details of the deal were not disclosed.
As per the deal, the State of Cameroon would take over all the activities operated by this subsidiary, as well as all the client portfolios and all the employees of this entity.
The transaction, expected to close by 2025 end, would have a positive impact of around 6 basis points on the group's CET1 ratio.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.