Society General suspends activities in Cote d'Ivoire

Abidjan, Cote d'Ivoire (PANA) - Société Générale de Banques in Côte d'Ivoire (SGBCI), a subsidiary of the French bank Societe Generale, Thursday suspended its activities in Cote d'Ivoire, in the wake of the country's post-electoral crisis.

In a statement published on its website, the SGBCI said it was no longer "able to continue providing quality and secure services."

However, SGBCI said the bank would re-open to customers and provide normal operation as soon as possible.
The SGBCI became the fourth international bank to suspend its operations in the West African nation, following BICICI, Citibank and Standard Chartered Bank.

Budget Minister of Laurent Gbagbo's government, Koné Katinan Justin, said Wednesday "all measures have been taken to avoid a total destabilization of the Ivorian banking system."
-0- PANA BAL/JSG/JEN/SEG 17Feb2011

17 february 2011 11:29:15

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