Crédit Agricole Profits Drop 94 Percent

Posted August 28, 2008 * Comments(2)

French bank Crédit Agricole saw its profits drop 94%, largely due to massive losses at its investment banking unit Caylon.  The Caylon unit reported a loss of €855 million as the bank suffered €1.1billion in write-downs related to the current mortgage problems.

2 Comments so far

  1. Bad Paper | Business Blog Review on September 7th, 2008

    [...] of that. The blog posts keeps you hooked till the very end. The great thing about this site is the clarity and elegance of prose in articles. The resolution of photos in the site is excellent. The way the information has been put indicates [...]

  2. Uruguay investment on September 16th, 2008

    I think it is due to involvement of bank in property business.

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