Credit Agricole CFO sees Emporiki sale in ‘weeks’
Credit Agricole expects the sale of its crisis-scarred Greek bank Emporiki to be signed within «weeks», according to slides of a presentation by the French bank’s chief financial officer posted on its website on Tuesday.
Credit Agricole is in the process of transferring shipping loans denominated in US dollars from Emporiki to its own balance sheet, CFO Bertrand Delpit said in the slides, a process which could still take «months.”
The CFO reiterated Credit Agricole’s parent group’s commitment to exceed a 9 percent Basel III core Tier 1 ratio by early 2013 in the presentation, which will be given at a Barclays conference in New York. [Reuters]
