Crédit Agricole Announces High Net Losses in Midst of Bank Reforms

Last Wednesday, February 20, French bank Crédit Agricole, announced a net loss of 6.47 billion euros for the year 2012. This statement sets the bank’s balance sheet “in the red” at a net negative of 3.8 billion euros. Great losses for the first three quarters of 2012 had already been declared, and this most recent […]

Crédit Agricole to Report Historic Losses in 2012

On Friday, February 1 French bank Crédit Agricole, the third largest bank in finance, confirmed that it would make a 2.68 billion euro (3.64 billion dollar) goodwill writedown of the value of its assets. Of the this, 923 million euros will come from its consumer finance sector, 852 million euros from its ownership of an […]