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They worry the sense of urgency in dealing with the problem is fading at a time when economic growth is flatlining across the euro zone, which is being reflected in SocGen's poor stock-market valuation relative to other European banks.
"(SocGen) is trying to cut its stock of illiquid assets but you can tell it's tricky," said Yohan Salleron, a fund manager at Mandarine Gestion, which has around 1.5 billion euros ($1.88 billion) under management.
"We prefer (domestic rival) BNP Paribas."
PARIS, June 25 |
(Reuters) - Societe Generale's
long-running battle to cleanse its balance sheet of toxic assets
left over from the 2008 financial crisis i s putting investors on
their guard.They worry the sense of urgency in dealing with the problem is fading at a time when economic growth is flatlining across the euro zone, which is being reflected in SocGen's poor stock-market valuation relative to other European banks.
"(SocGen) is trying to cut its stock of illiquid assets but you can tell it's tricky," said Yohan Salleron, a fund manager at Mandarine Gestion, which has around 1.5 billion euros ($1.88 billion) under management.
"We prefer (domestic rival) BNP Paribas."
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