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Daily Digit: Credit Agricole's Historic Loss
6.5 billion euros is today's daily digit - the full year loss at Credit Agricole. It's the worst result since the French bank went public 11 years ago. And taxes on the sale of its Greek unit Emporiki were partly to blame. The French authorities disallowed a tax deduction the bank was seeking leaving France's third biggest lender with a tax hit of almost 840m euro. That pushed fourth quarter write downs to more than four and half billion.
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