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Credit Agricole regional banks to take 651 mln eur charge
January 25, 2013 / 7:47 AM / 5 years ago

Credit Agricole regional banks to take 651 mln eur charge

PARIS, Jan 25 (Reuters) - The regional banks which control French lender Credit Agricole are taking a 651 million-euro ($871 million) impairment charge to reflect a change in how they value their shares in holding company SAS Rue La Boetie.

The charge will result in a 160 million-euro write-down in the consolidated accounts of Credit Agricole, reflecting the resulting reduction in their contribution to the listed entity’s earnings, the bank said in a statement. ($1 = 0.7477 euros) (Reporting by Christian Plumb; Editing by James Regan)

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