Cap markets revenue falls by a third at Créd Ag

Jasper Cox

February 14, 2019 02:30 PM

CredAg2_PA_230x150 — Moody's ratings agency said Wednesday Sept. 14, 2011, it had downgraded by one notch top French banks Societe Generale and Credit Agricole while leaving BNP Paribas on negative watch. Credit Agricole's rating slid from Aa1 to Aa2 while Societe Generale was cut from Aa2 to Aa3. Shares in all three banks have plummeted in recent weeks on exposure to Greek sovereign debt and turbulence caused by the eurozone debt crisis. File picture : A Credit Agricole credit card is pictured in a Credit Agricole ATM, in Paris, France, on November 28, 2002. Photo by Lucas Schifres/ABACA. | Schifres Lucas/ABACA/PA Images

Crédit Agricole provided no let-up in the disappointing performances of fixed income, currencies and commodities (FICC) desks in French banks’ fourth quarter results. By one measure it was the lender's worst quarterly result there in more than six years.

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Topics

Bank Results FIG People and Markets Europe Crédit Agricole France EMEA FIG People and Markets

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Jasper Cox