Credit Agricole set to boost shipping provisions as sector gloom deepens
Credit Agricole CIB, which has a shipping portfolio worth $15 billion, is likely to set aside extra provisions this year to cover potential losses after the sharp downturn in the industry, a senior official at bank said.
Thibaud Escoffier, head of shipping and offshore finance at the lender's corporate and investment banking unit, said it was too early to say how large the provisions would be, adding that the shipping book would "continue to be properly marked".
Parts of the shipping industry are suffering their deepest downturn ever as international trade slows and freight rates... read more
- 00:15 Indy 500 live stream: How to watch the famous race online and on TV
- 00:15 Kell Brook suffers nasty eye injury as he relinquishes IBF title to...
- 00:11 Fiction: The Trouble With Humans by Tracy Rees
- 00:11 Book reviews: Jane Austen At Home and Uncommon People
- 00:11 Dance review: Mixed Bill by The Royal Ballet
- 00:11 Theatre reviews: Winter Hill and Woyzeck
- 00:11 Opera review: Cavalli’s Hipermestra by Glyndebourne Festival Opera
- 00:11 Film reviews: Pirates Of The Caribbean, Interlude In Prague and more
- 00:11 Remembering Sir Roger Moore: The legendary actor who 'charmed'...
- 00:11 Christine McVie reveals why she returned to the spotlight with new...
- 00:11 Student invents rocking chair that soothes autistic children
- 00:08 Garden of peace to be created to honour war poet Wilfred Owen
- 00:08 Ben Stokes offers injury update after England clinch South Africa win
- 00:06 Uber CEO Kalanick's mother dies in boat accident
- 00:02 TV round up: Twin Peaks, Inspector George Gently and more
- 00:02 The Handmaid’s Tale star Elisabeth Moss: It’s very hard to put this...
- 00:02 EastEnders spoilers: Whitney’s TRUE intentions EXPOSED by Shirley...
- 23:59 Kell Brook beaten by Errol Spence in IBF welterweight title fight...
- 23:59 Hope for Corbyn in critical week for election campaign
- 23:56 Dani Garavelli’s Election Focus: East Dunbartonshire
- 23:56 James Walker: Know your rights if your flight is delayed
- 23:54 Jamie George poised to become the Lions' first-choice hooker
- 23:51 Arsene Wenger becomes the most successful boss in FA Cup history...
- 23:50 Thousands of music fans show defiance in the face of terror by...
- 23:50 ‘Shocking rise’ in murders, sex attacks and serious assaults
- 23:48 Borussia Dortmund 2-1 Eintracht Frankfurt: Panenka penalty from...
- 23:48 Mother of Uber CEO killed in boating accident - newspaper
- 23:44 ‘Gutted’ Kell Brook loses IBF title to impressive Errol Spence...
- 23:41 Euan McColm: I’m with Obama on snake oil salesmen
- 23:39 Dementia now second only to poverty on the worry list