Credit Agricole to take extra €1.6 billion hit

12/21/2007 | Agence France-Presse

Fallout from the credit crisis will take an additional €1.6 billion bite from Credit Agricole's 2007 earnings, the French bank revealed Thursday. Calyon, Credit Agricole's investment banking division, will post a loss for the year. "The crisis is settling in, and the consequences are becoming apparent," said Rene Carron, the bank's chairman.

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