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Oudea said his five-year plan involves restructuring SocGen's Russian business, adding customers in its home market of France, and cutting costs. He announced a new earnings target for 2012 of euro6 billion in net profit, double the aim for this year. That compares with the 2009 net profit of euro678 million. Kerviel faces a possible five years in prison as well as a euro375,000 ($450,000) fine if convicted of forgery, breach of trust and unauthorized computer use. The bank, a civil party in the case, is asking for nearly euro5 billion in damages, though Kerviel could never pay that amount.
[Associated
Press;
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