Loss on subprime assets reduces profit by 46%

August 2008
Accountancy;Aug2008, Vol. 142 Issue 1380, p94
Trade Publication
The article reports that Credit Agricole has incurred a net loss of 4.1 billion euros in connection with U.S.-related subprime assets. The losses divide almost evenly between those involving asset-backed instruments and collateralized debt obligations, and losses stemming from monoline insurance. The losses reduced net income by 46%.


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