OREANDA-NEWS. September 21, 2011. It is read in the Mobiasbanca - Groupe Societe Generale’s statement, presenting data confirming stability of the Societe Generale group and of the bank belonging to it in Moldova. The statement reads that Mobiasbanca - Groupe Societe Generale is participating exclusively in financing of Moldovan clients and Mobiasbanca is a profitable bank with good financial indicators and liquidity.

Mobiasbanca is a part of the international retail banking activity of the Societe Generale that is one of three bases of the group’s strategy. In conditions of the current uneasiness on financial markets and ungrounded rumors about banks as a whole and Societe Generale, in particular, the group has presented an updated information about the credit risk concentration, as well as about the financing level and measures to be taken to accelerate the transformation process in order to adapt to the existing conditions. It is stressed that thanks to the reliable and diversified business model, the Societe Generale group has remained profitable over the whole crisis period and has increased capital by 19 bln euros since 2007 – to 40.6 bln euros.

Some important steps have been made over the last two years to create a more client-oriented business model, with a lower risk share and with a higher capital basis. The new environment demands acceleration of this transformation. Particularly, the group decided to focus on its strong activities, enhancing costs’ efficiency and reducing the share of participation in the corporate and investment bank management. As a result, the group intends to release 4 bln euro investments from its active base. The first level capital adequacy level is 9.3%. As a result of revision of French banks’ ratings, Societe Generale took into consideration Moody’s decision to downgrade the group’s rating by one degree, to Aa3.

This technical correction was necessary to bring the systematic assumptions regarding the group in line with two other largest banks of France. Societe Generale notes that Moody’s estimates the risk of the group, connected with investments in Greece (a sovereign debt and of the daughter company Geniki) as moderate and controlled in terms of profitability and capital risk. The same appraisal is given in respect of the group’s investment in other peripheral countries of the eurozone.