Tuesday, May 13, 2008 - 09:00
AFP News Briefs ListCredit Agricole seeks six billion euros after sub prime losses
French banking giant Credit Agricole said Tuesday it would launch a 5.9 billion euro (9.2 billion dollar) capital increase after reporting another 1.2 billion euro loss in the sub-prime crisis in the first quarter.
The bank said that its nets profit would likely be 892 million euros, after a 1.205 billion euro loss linked to the US credit risk that hit Calyon, its investment bank.
Images
File photo shows the headquarters of French bank Credit Agricole in Paris. The banking giant has said it would launch a 5.9bn euro (US$9.2bn) capital increase following its 1.2bn euro loss in the sub-prime crisis
© 2007 AFP Jean-Pierre Muller
