Credit Agricole says starts paying back LTRO funds

PARIS Fri Feb 1, 2013 7:26am EST

PARIS Feb 1 (Reuters) - Credit Agricole has started repaying the cheap funds it borrowed from the European Central Bank at the height of the euro zone crisis, a spokeswoman for the French bank said on Friday.

The spokeswoman declined to elaborate.

Earlier this week larger French rival BNP Paribas' Chief Executive Jean-Laurent Bonnafe told Reuters that it had been part of the first wave of so called LTRO repayments. (Reporting by Christian Plumb; Editing by Elena Berton)