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Cr?dit Agricole will reimburse the state

October 16, 2009

And one more! After BNP Paribas, Societe Generale, Credit Mutuel and BPCE, Cr?dit Agricole is the last major retail banks have announced in a statement it would "proceed to a full refund of the three billion deeply subordinated securities underwritten by the SPPE (Company making state participation) under the French plan to support the economy. " A fact made possible by "the investment currently under TSS on the European institutional market and (from) other similar programs carried out for several months," said the bank

Refund October 27

The group should finalize the refund and October 27."This decision can be explained by the financial strength affirmed the Cr?dit Agricole group and, within it, Credit Agricole SA, which was posted on June 30, 2009 solvency ratios Tier 1 of 9.2% and Core Tier 1 of 8.6%, supported by a high level of equity (43.7 billion euros), "argued the bank.

It has also reminded not to have issued preference shares as part of the second tranche of strengthening banks' capital proposed by the State. The title increased by 2.36% to 14.78 euros at 10:30 am at the Paris stock exchange.

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