Credit Agricole Posts 2.85 Billion-Euro Loss on Greek Sale

Credit Agricole Posts 2.85 Billion-Euro Loss on Greek Sale

Chris Ratcliffe/Bloomberg

Credit Agricole is selling Athens-based Emporiki for a token price of 1 euro, it said Oct. 17. The French bank will inject more funds into Emporiki, bringing the total capital boost since July to 2.85 billion euros, and buy 150 million euros of convertible bonds issued by Alpha Bank.