Credit Agricole SA, France’s second- largest bank by assets, will report a loss for 2011 and eliminate 2,350 jobs at its investment-banking and consumer- finance units as Europe’s debt crisis erodes economic growth.
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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