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Credit Agricole SA Announces Goodwill Impairment Charge in Q4 2012 Results

Friday, 1 Feb 2013 01:01am EST 

Credit Agricole SA announced that its fourth quarter 2012 results would be affected by goodwill impairment charges amounting to EUR 2.676 billion, including EUR 466 million related to corporate and investment banking, EUR 366 million related to brokerage (Newedge), EUR 923 million related to consumer finance and EUR 921 million related to international and retail banking, of which EUR 852 million for Italian retail banking. In addition to that, the value of the bank's 20.2% interest in BES has been written down by EUR 267 million. These impairment charges have a negative impact of the same amount on Credit Agricole SA's net income Group share for the fourth quarter of 2012, but do not affect either its solvency or its liquidity as goodwill is already fully deducted in the calculation of solvency ratios. 

Company Quote

-0.0050 -0.05%
22 Aug 2014