PARIS Feb 24 French bank Credit Agricole
(CAGR.PA) on Thursday said it swung to a net loss in the fourth
quarter, hit by a well-flagged 1.25 billion-euro ($1.72 billion)
write-down on its stake in Italy's Intesa Sanpaolo (ISP.MI).
The bank is trying to return to its agricultural domestic
roots under new management after an ill-fated bid to become a
major global player was cut short by the financial crisis.
Credit Agricole posted a fourth-quarter loss of 328 million
euros, slightly better than analyst forecasts of 402 million,
according to a Reuters poll of 10 analysts. A year earlier
Credit Agricole had posted a profit of 433 million.
The group plans to propose a dividend of 0.45 euros a share,
flat year-on-year. It also said it would not need to raise
capital to meet incoming Basel III rules.
(Reporting by Lionel Laurent; Editing by James Regan)