Capital2's Blog

Recruitment and Career advice for the High Tech and Banking Industries

Sub Prime woes continue. Boooooooo

France’s biggest retail bank Credit Agricole made a loss in the last three months of 2007, hit by a hefty charge at its Calyon investment banking arm. Credit Agricole lost 857m euros ($1.3bn, £657m) in the fourth quarter, after Calyon took a 3.3bn-euro charge on losses related to the credit crisis.

That charge is worse than Credit Agricole’s forecast in December of a 2.5bn-euro loss.

The bank also dismissed rumours that it might bid for Societe Generale.


March 5, 2008 - Posted by | Banking News, Macroeconomic News | , , , , , , ,

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