Bloomberg News

Credit Agricole’s Chief Sees No Need for Capital Increase

May 11, 2012

Credit Agricole SA (ACA)’s Chief Executive Officer Jean-Paul Chifflet said the bank sees no need of a capital increase related to its Greek exposures.

“The group’s internal resources should allow it to face this situation,” Chifflet said, referring to mounting risks of a possible Greek exit from the euro. While Credit Agricole’s management is working on the “worry” Greece could leave the European common currency, an exit isn’t the main scenario, Chifflet said.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at fabiobv@bloomberg.net


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