Credit Agricole plans $5.9b capital increase.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. Eoe1/4" French banking giant Credit Agricole has launched a 5.9-billion-euro ($9.1-billion) capital increase aimed at shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" its resources after suffering losses on its US subprime exposure. EuropeEoe1/4aos leading retail bank, which has lost 4.2 billion euros since the start of the subprime crisis last August, wants to boost its capital ratio to 8.5 per cent from about 7.7 per cent as of late March. Capital ratios measure the financial health of a bank by weighing its own funds against its liabilities. The bank, in a move favouring existing shareholders, will offer shares at 10.60 euros a piece, representing a discount of about 37 per cent compared with the closing level on June June: see month. 3. Credit Agricole shares closed on Friday at 13.96 euros, down 2.05 per cent. Bank managing director Georges Pauget has been trying to assure analysts that the capital increase operation, which will run until June 24, is not aimed at covering future asset writedowns. Instead, he said recently, the operation will prepare Credit Agricole for a new banking environment in which Eoe1/4Eocapital is kingEoe1/4A[yen]. Muscat Muscat, Maskat, or Masqat (all: mŭs`kăt, mŭs`kət), city (1993 pop. 533,774), capital of Oman, SE Arabia, on the Gulf of Oman. It is flanked by rugged mountains. Press and Publishing House SAOC SAOC Studies in Ancient Oriental Civilization SAOC Sunbeam Alpine Owners Club (UK) SAOC Sector Air Operations Center SAOC South African Orchid Council SAOC Submariners Association Of Canada (Gloucester, ON, Canada) 2008 Provided by Syndigate.info an Albawaba.com company |
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