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Caisse d'Epargne seen posting a loss in '08-report

Thu Nov 27, 2008 5:00pm EST

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PARIS, Nov 27 (Reuters) - French mutual bank Caisse Nationale des Caisses d'Epargne (CNCE) could post the first loss of its history in 2008, due notably to a 751 million euros trading loss and to losses at investment bank Natixis (CNAT.PA), business daily Les Echos reported in Friday editions.

Asked for a comment, a CNCE spokesman said it would be "premature to provide indications on the earnings of a year that has not ended yet,"

Reuters got an advanced copy of the frontpage of Les Echos's Friday edition.

Last month the Paris prosecutor's office opened an investigation into a 751 million euro trading loss at Caisse d'Epargne that prompted the resignation of its top executives.

Caisse d'Epargne is planning to merge with rival French mutual lender Banque Populaire.

Caisse d'Epargne and Banque Populaire both have stakes of 35 percent in Natixis, the French investment bank that has been hit hard by the credit crisis.

(Reporting by Matthiey Protard, Dominique Vidalon)



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