OREANDA-NEWS At the end of July, the French Societe Generale group closed positions related to the group's presence in Russia through Rosbank, receiving 301 million euros from the transaction, according to the group's statements.

The financial elements related to this transaction will be reflected in the financial statements for the third quarter of 2024 and will make a positive contribution to the group's net profit in the amount of 200-250 million euros.

According to the reports, at the end of the second quarter, the volume of risks on the group's balance sheet related to Russia amounted to 0.6 billion euros, having decreased by more than 80% since the beginning of 2022.

Societe Generale Group left the Russian market in May 2022, selling its main asset, Rosbank, to Interros company of businessman Vladimir Potanin, who founded the bank in 1998.

Currently, the main shareholders of Rosbank are Interros (45%) and the charitable foundation created by Potanin (47.5%). Another 7.5% is on the balance sheet of Rusfinance (owned by Rosbank) as part of the motivation program of the bank's employees. Interros is also the main shareholder of TKS Holding with a 35% stake, which it bought out in April 2022 from the founder of the group Oleg Tinkov (recognized in the Russian Federation as a foreign agent).

In May of this year, the shareholders of TKS Holding approved the placement of an additional issue of shares as part of a deal to integrate into the Rosbank group. The completion of the additional issue and the closing of the transaction are expected before the end of the third quarter of 2024. The holding also plans to obtain all necessary regulatory approvals from government agencies.