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 copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: