Corporates drawing on credit lines to secure liquidity - SocGen CEO


FILE PHOTO: Societe Generale's Chief Executive Officer Frederic Oudea attends the Euronext stock exchange's annual conference in Paris, France January 14, 2020. REUTERS/Benoit Tessier/File Photo

PARIS (Reuters) - French bank Societe Generale's chief executive said some large corporates are drawing on committed credit lines as they try to secure liquidity, but that they are sometimes doing that with no real need.

"They are doing this to gain more confidence, but in a relatively irrational way," Societe Generale CEO Frederic Oudea said at a conference organised by Morgan Stanley and broadcast on its website.

(Reporting by Maya Nikolaeva; Writing by Geert De Clercq; Editing by Jan Harvey)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In World

Russia dismisses outcry over detention of Kremlin foe Navalny
U.N. rights office calls for immediate release of Navalny
'Every week counts' as Austria, Greece, Denmark seek quick EU OK for AstraZeneca vaccine - Kurz
Thai protesters accuse authorities of abduction, intimidation
New CDU leader lags Bavarian premier in race to succeed Merkel
German health minister: don't call mutant corona strain 'English'
Vaccine nationalism puts world on brink of 'catastrophic moral failure' - WHO chief
South Korea's Moon urges Biden admin to follow up on Kim, Trump summit
Detained Kremlin foe Navalny rushed to court, Moscow tells West to butt out
UK worried about Navalny's safety after Russia detains him, minister says

Stories You'll Enjoy