December 20, 2007

Credit Agricole announces 1.6-billion-euro writedown due to subprime crisis (AFP)

Main entrance of French bank Credit Agricole's headquarters in Paris. French bank Credit Agricole said Thursday that higher writedowns and provisions stemming from the credit crisis will have an additional 1.6-billion-euro (2.3-billion-dollar) impact on its 2007 earnings.(AFP/Jean-Pierre Muller)AFP – French bank Credit Agricole said Thursday that higher writedowns and provisions stemming from the credit crisis will have an additional 1.6-billion-euro (2.3-billion-dollar) impact on its 2007 earnings.

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