As each new thrust of the debt crisis
Sovereign Credit Agricole has suffered heavily Tuesday
plunging 6.7% to 8.77 euros, the second highest
sharp fall in the CAC 40. Societe Generale (-6.3%) and Dexia
(-4.6%) Were also battered, also pushed
by fears surrounding the situation of banks
Europe.
The concerns of investors in the sector have
increased further after the rescue this weekend of
Cajasur savings by the Bank of Spain. But
Crédit Agricole's exposure to Greece continues well
sure to haunt the minds, the Greek banks to
publish their quarterly results last week
May.
The risk of default of Greece has also not
disappeared. "According to our calculations, if Greece was lacking
on 50% of its debt, the ratio of average core tier 4
banks would increase from 9% to 2%, and Piraeus NBG
being the most impacted, "says one analyst
Paris. A scenario that does not encourage unrealistic optimism
more for Emporiki Bank Greece fifth, with Credit
Agricole owns 72% of capital.
In this context always highly risky than
Deutsche Bank lowered its recommendation on Tuesday
Credit Agricole "Buy" to "Keep". Reason
invoked: "It is the only French bank
that a postponement of the regulatory reform of Basel 3
could have a negative impact on recovery. "
Indeed, the broker said, "recovery
relatively low turnover is partly linked to
uncertainties in the capital base of the bank, which
could be lifted with the publication of the
new regulations.
Moreover, according to Deutsche Bank, unlike its peers,
Credit Agricole should not be eligible for
improving its charges on loans in
because of its exposure to Greece.
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