Tag Archives: Crédit Agricole

John Ward – Creditag Results Drop 75% AS A Billion Written OFF In Greece – 11 May 2012

Slog warnings fulfilled as anaylsts’ estimates trash

Following three days of confident predictions by The Slog that Credit Agricole SA, France’s third-largest bank by market value, is in trouble based on Greco-Spanish exposure and subsidiary ownership, the bank announced this morning (Friday) that first-quarter profit dropped 75%.

This was twice the level of fall expected by an average sample of analysts earlier in the week. Net income fell to €252 million (from 1 billion a year ago) . The average analyst’s estimate was €482. Continue reading

John Ward – Breaking… Credit Agricole “Will Be Hollande’s First Challenge” Say Sources – 8 May 2012

Investors may be about to panic as CA price continues to fall

Tuesday’s confirmation of yesterday’s Zero Hedge rumour (that Spain is embarking on a bailout of its banking system) must be making the residents of Berlin-sur-Brussels wonder what on Earth might happen next. But it’s looking increasingly like the Next Big Thing could be a French bank failure. Continue reading