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French bank Calyon eyes Chinese expansion

Thu Jul 9, 2009 4:19am EDT

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PARIS, July 9 (Reuters) - Calyon, the investment banking arm of French retail bank Credit Agricole (CAGR.PA), said on Thursday it was considering expanding its activities in China, whose economy continues to grow despite the financial crisis.

Calyon currently employs some 140 staff in China working in Beijing, Shanghai and other major business centres. Its operations range from leveraged finance to capital markets activities and commercial banking.

Credit Agricole is also present in the region through its CLSA brokerage division and through its fund management joint venture with Agricultural Bank of China [AGBKC.UL].

In May, Agricole reported a 77 percent fall in first-quarter net profit which incorporated a loss within the Calyon arm. (Reporting by Sudip Kar-Gupta; Editing by David Cowell)



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