French bank Societe Generale reports net loss 1.5 bln euros after Russia exit

PARIS, Aug. 3 (Xinhua) -- French bank Societe Generale said on Wednesday it reported a net loss of almost 1.5 billion euros (1.53 billion U.S. dollars) in the second quarter (Q2) of this year.

"The Group withdrew in an orderly and effective manner from Russia with the finalisation of the disposal of Rosbank and its insurance subsidiaries in Russia," said the group in its Q2 earnings statement, adding that this disposal resulted in the accounting of a loss in income statement of 3.3 billion euros before tax.