Tax windfall at Crédit Agricole to fund capital shake-up
Crédit Agricole SA (CASA), the listed entity of the mutual banking group Crédit Agricole, saw its Common Equity Tier 1 (CET1) capital ratio surge 40 basis points in the last quarter of 2019, aided by a tax break worth over €1 billion ($1.1 billion) following the sale of its Greek unit, Emporiki.
The subsidiary had been bought for €1 by Alpha Bank in 2012, with CASA initially booking a €2.3 billion loss on the sale. A lengthy legal dispute followed on the size of a tax credit CASA could claim
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk Quantum
Investing
BlackRock to grant funds power to track climate risks
Aladdin system holding trillions of dollars to show whether funds are burning the Earth or saving it
Receive this by email