Michel Sapin, Frances Minister of Finance, has confirmed that a decision will be made "within September" on whether Societe Generale’s $2.44bn tax deduction to subsidise losses made by trader Jerome Kerviel will be reclaimed. Analysts have warned however that a reclaim of the governmental aid would put the bank’s dividend at risk as well as affect its capital adequacy ratios.
Michel Sapin, Frances Minister of Finance, has confirmed that a decision will be made "within days" on whether Societe Generale’s $2.44bn tax deduction to subsidise losses made by trader Jerome Kerviel will be reclaimed. Analysts have warned however that a reclaim of the governmental aid would put the bank’s dividend at risk as well as affect its capital adequacy ratios.