Crédit Agricole underlined the troubles plaguing some of Europe's largest banks, announcing plans to drastically shrink its investment bank in an effort to reduce its reliance on volatile market funding.
The French bank, which faces mounting losses in Greece, is redoubling efforts to get help from an unlikely source: the Greek central bank and its emergency-loan program.
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Lossmaking Emporiki unit contributes to 75 per cent decline in quarterly net profits at France’s third-biggest bank
Financial Times – US homepage
Crédit Agricole hit by Greek exposure is a...
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