Monday, July 06, 2009

Tuesday, May 13, 2008 - 09:00

AFP News Briefs List
 
Credit 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.

     

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