Arab Today, arab today cagricole eyes greek bank sale
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

C.Agricole eyes Greek bank sale

Arab Today, arab today

Arab Today, arab today C.Agricole eyes Greek bank sale

Athens - Arabstoday

Credit Agricole (C. Agricole) is in talks to sell all or part of struggling Emporiki Bank as it continues its drive to resolve the Greek risk that has dogged it in recent months, a Greek lender and a source familiar with the matter said on Monday. Greece’s biggest lender, National Bank, said in a bourse filing that it was in talks with the French bank over a “strategic alliance” regarding Emporiki. A Credit Agricole spokeswoman declined to comment. Europe’s No. 4 bank by assets has been scrambling to scale back its 4.6 billion euro ($5.84 billion) exposure to Emporiki after concern that a Greek exit from the euro zone would prompt massive writedowns and force a capital increase. “There were discussions between the managements of National and Credit Agricole regarding the potential for future strategic alliances, which are at an initial phase,” National said, adding that it would inform investors if the talks bore specific results. National is the first lender to confirm it is in discussions with Credit Agricole over a possible takeover of Emporiki, partial or otherwise. Credit Agricole may decide to retain a minority stake in the Greek lender, which at the end of last year had 1.3 million customers and 22.3 billion euros in outstanding loans. Last week Alpha Bank denied a report that it was in talks to acquire Emporiki assets. Credit Agricole shares jumped 8.4 per cent on Monday, reaching 3.76 euros at 1207 GMT, their biggest per centage rise since January. The shares are still down 14 per cent this year and touched a record low in early June. The news of a potential sale is the latest in a series of positive Greece-related developments for the French bank in recent weeks. In early June sources said Emporiki had gained access to emergency liquidity funds provided by Greece’s central bank to prop up the country’s ailing lenders. After in the month the bank said it was hiring Xavier Musca as executive vice-president in charge of international retail banking. Musca, who played a key role in the shadows during former French President Nicolas Sarkozy’s handing of the euro zone crisis, could already be making his mark with the Emporiki sale talks.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cagricole eyes greek bank sale Arab Today, arab today cagricole eyes greek bank sale

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cagricole eyes greek bank sale Arab Today, arab today cagricole eyes greek bank sale

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday