Credit Agricole, France’s third largest bank by market value, published in its 2Q11 net profit results on Thursday a 10.6 percent decrease at €339m compared to €379m in the same period last year.
The decline was mainly attributed to a pre-tax impairment on its Greek bond exposure of €202m, the bank said in a statement.
In Paris trading the lender had dropped around 30 percent in August over the threat the sovereign debt crisis could affect its 960 Italian branches.
Greek exposure affects Credit Agricole profits
Credit Agricole, France’s third largest bank by market value, published in its 2Q11 net profit results on Thursday a 10.6 percent decrease at €339m compared to €379m in the same period last year. The decline was mainly attributed to a pre-tax impairment on its Greek bond exposure of €202m, the bank said in a statement. In Paris […]