"Societe Generale remains committed to trade commodities finance at the global level and in Asia," the bank said in an email to Reuters.
The bank's reshuffle had sparked concern it could scale back, or even wind down, its financing services to Singapore's shipping fuel sector, five trade sources said. "Banks are certainly a lot more vigilant in the marine fuels sector at this time, and are asking themselves more questions as to the support they should be providing in light of a number of hits different banks have taken," said a risk management executive at a Singapore oil trader.
Of IPP's more than US$168.5 million in outstanding liabilities, more than US$96 million was in trade financing from SocGen, court documents reviewed by Reuters showed. The bank did not confirm the losses.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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