Tuesday, August 5, 2014

Crédit Agricole Takes $950 Million Hit on Portuguese Bank by CHAD BRAY



By CHAD BRAY


Crédit Agricole, based in Paris, said its second-quarter earnings fell to 17 million euros, or about $22.8 million, as it wrote down its entire investment in the troubled Portuguese lender Banco Espírito Santo. That compared with net income of 696 million euros in the prior-year period.


Published: August 5, 2014 at 4:00AM


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