PARIS Jan 21 Credit Agricole is
working on a cost-cutting plan of 150-200 million euros
($199-266 million) through 2015 at its corporate and investment
banking unit, according to France's l'Agefi newsletter.
A job-cut programme will not be included in the plan, which
comes after the bank laid off 1,750 staffers last year, the
newsletter said without citing its sources. The group will seek
to get rid of certain functions, continue outsourcing efforts,
and encourage some workers to take early retirement.
France's third-largest bank could not immediately be reached
Similar to other banks, Credit Agricole has been selling
assets and streamlining its business to meet stricter
regulations after the 2008 financial crisis. It was forced to
take a 1.96 billion euro in writedowns on the sale of its Greek
unit, Emporiki Bank, in November.
($1 = 0.7524 euros)
(Reporting by Leila Abboud; Editing by Hans-Juergen Peters)