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    GLE   FR0000130809

SOCIÉTÉ GÉNÉRALE

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Brazil's antitrust body fines Citibank, Société Générale for currency manipulation

06/22/2022 | 08:09pm EDT
The logo for Citibank is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City

SAO PAULO (Reuters) - Brazil's antitrust watchdog said on Wednesday it will fine the Brazilian units of Citibank and Société Générale for exchange rate manipulation.

Citibank has committed to pay 71.6 million reais ($13.78 million) and Société will pay 5.57 million reais ($1.07 million) in fines, the watchdog Cade said.

Cade said there was evidence dating back to 2016 of the banks price fixing their currency spreads, and coordinating the purchase and sale of currencies involving the Brazilian real.

($1 = 5.1945 reais)

(Reporting by Alberto Alerigi Jr.; Writing by Carolina Pulice; Editing by Tom Hogue)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / BRAZILIAN REAL (CAD/BRL) -0.32% 4.1247 Delayed Quote.-6.28%
EURO / BRAZILIAN REAL (EUR/BRL) -0.42% 5.5238 Delayed Quote.-12.40%
SOCIÉTÉ GÉNÉRALE -4.44% 19.7 Real-time Quote.-31.75%
US DOLLAR / BRAZILIAN REAL (USD/BRL) 1.38% 5.3949 Delayed Quote.-4.48%
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Financials
Sales 2022 25 788 M 26 894 M 26 894 M
Net income 2022 1 937 M 2 020 M 2 020 M
Net Debt 2022 - - -
P/E ratio 2022 12,7x
Yield 2022 8,09%
Capitalization 16 799 M 17 519 M 17 519 M
Capi. / Sales 2022 0,65x
Capi. / Sales 2023 0,63x
Nbr of Employees 131 000
Free-Float 91,2%
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Number of Analysts 22
Last Close Price 20,62 €
Average target price 32,40 €
Spread / Average Target 57,1%
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Frédéric Oudéa Chief Executive Officer & Director
Claire Dumas Group Chief Financial Officer
Lorenzo Bini Smaghi Chairman
Carlos Goncalves Chief Information Officer
Gaëlle Olivier Chief Operating Officer & Deputy General Manager
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