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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Crédit Agricole    ACA   FR0000045072

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Credit Agricole CEO: No Immediate Plans for Capital Increase

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11/09/2012 | 09:01am CET

By Noemie Bisserbe

PARIS--Credit Agricole SA (>> CREDIT AGRICOLE) Chief Executive Jean-Paul Chifflet said Friday the bank had no immediate plans for a capital increase, and that it is well on track to meet its capital ratio targets by the end of next year.

"We do not foresee it [a capital increase] for the moment," said Mr. Chifflet, who was speaking in a conference call with reporters.

The Paris-based lender, France's third largest listed bank, also said that it has received several offers for its stake in Spanish bank Bankinter SA (MKT.MC). Credit Agricole's stake in Bankinter fell just below 20% in the third quarter.

"None of the offers received so far were attractive," said Chief Financial Officer Bernard Delpit.

Earlier Friday, Credit Agricole said the sale of its troubled Greek banking arm pushed it to a record third-quarter loss. The bank posted a third-quarter net loss of 2.85 billion euros ($3.63 billion), well below analyst forecasts of a EUR1.76 billion net loss. The bank had reported a EUR258 million profit in the same quarter a year earlier.

Write to Noemie Bisserbe at noemie.bisserbe@dowjones.com

Stocks mentioned in the article : CREDIT AGRICOLE
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Financials (€)
Sales 2017 18 446 M
EBIT 2017 6 304 M
Net income 2017 3 205 M
Debt 2017 -
Yield 2017 5,36%
P/E ratio 2017 10,26
P/E ratio 2018 9,25
Capi. / Sales 2017 1,73x
Capi. / Sales 2018 1,66x
Capitalization 31 919 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 12,8 €
Spread / Average Target 14%
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NameTitle
Dominique Lefèbvre Chairman
Pascal Célérier Deputy MD, Head-Operations & Transformation
Jérôme Grivet Chief Financial Officer & Deputy Managing Director
Jean-Paul Mazoyer Head-Group Information Technology
Laurence Dors-Meary Independent Director
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