January 30, 2013 / 11:20 PM / 5 years ago

New provisions seen looming at Credit Agricole -report

PARIS, Jan 30 (Reuters) - Credit Agricole may soon warn investors that its fourth-quarter accounts will be hit by new provisions, French daily Le Figaro reported, without citing its sources.

A spokeswoman for Credit Agricole declined to commment.

Le Figaro said the size of the provisions was yet to be assessed but that the French bank was considering making a “disclosure” operation on its accounts, which should be finalised on February 20.

Reuters received an advanced copy of the article due for publication in Le Figaro’s Thursday edition.

Last week Credit Agricole sold a 5.2 percent stake in Spain’s Bankinter but saw profit from the deal eclipsed by a big charge as Agricole’s owners, a network of French regional banks, revalued their Agricole holding.. (Reporting by Dominique Vidalon, Matthieu Protard, Benoit Van Overstraeten; editing by Gunna Dickson)

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