The Societe Generale had lost nearly €5 billion due to fraud by its own trader.
New Delhi: The French Prime Minister has urged the members of the French parliament to encourage public confidence in Societe Generale after the rogue trader disaster.
He called on his fellow politicians to work towards restoring people’s trust in the bank. He said the bank must be allowed to increase its capital base and the loopholes that led to the fraud must be analysed.
The PM has also asked his finance minister to launch an investigation into the fraud.
Last week Societe Generale announced that a fraud by its own trader has cost the bank nearly € 5 billion.
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