Credit Agricole

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'Tour de Fraud' Earns Bank Record Fine

BNP Paribas fined almost $9B for bypassing sanctions

(Newser) - Federal prosecutors at last made good on their promise to get a guilty plea out of a major bank yesterday, as BNP Paribas agreed to a record fine of almost $9 billion for violating US sanctions. The bank, the biggest in France, "perpetrated what was truly a Tour de... More »

Moody's Downgrades French Banks

Greek debt crisis hits SocGen, Credit Agricole

(Newser) - The Greek debt crisis has hit the credit rating of two of France's biggest banks. Moody's has downgraded Societe Generale and Credit Agricole by a notch, and warned the country's biggest bank, BNP Paribas, that it may be next in line. The banks have seen their share... More »

Credit Agricole Hoping to Raise $9B

Battered by subprime losses

(Newser) - Subprime losses at Crédit Agricole’s Calyon investment bank are likely to prompt the French company to raise $9.17 billion in capital, reports the Wall Street Journal. A hit of $1.87 billion reduced its first quarter net profit to $1.38 billion from $1.82 billion the... More »

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