SocGen to sell Polish arm Euro Bank to Bank Millennium

(Reuters) - French bank Societe Generale (SOGN.PA) agreed to sell its Polish unit Euro Bank to Bank Millennium (MILP.WA), as part of its plans to divest non-core assets to focus on its core businesses.
The sale will lead to a 2 billion euros ($2.3 billion) reduction in its risk weighted assets and improve its core tier-one capital ratio by 8 basis points, SocGen said. The deal is expected to close in the first half of 2019.