French Societe Generale Group (SGG) is withdrawing from non-strategic markets in Eastern Europe, including Macedonia, reports Bulgarian weekly Kapital.
The Societe Generale branches in Bulgaria, Albania, Macedonia, Montenegro, Serbia and Moldova are set to be sold.
The business weekly says all banks are properly managed and register profits, but suffer from the similar shortcoming - small markets, saturation of the environment, and instability from a political and regulatory viewpoint.
In 2016, SGG sold the Croatian Splitska Banka to Hungary's OTP Bank Group, followed by its bank in Georgia last year.
The banks in Russia, Romania and the Czech Republic remain in the SGG portfolio.
