Frederic Oudea also said he expected the bank's equity ratio to
drop to between 11% and 11.5% percent, which would remain 200 to
250 basis points above minimum legal requirements, he said.
Shares in France's third biggest listed bank fell sharply on
Thursday after it surprised investors with a quarterly loss,
hiking provisions for bad loans and suffering a revenue wipeout
at its equity trading division.
"It is by far the most serious crisis we have had to face,"
Oudea told Les Echos. But Oudea added that, unlike during the
2008-2009 financial crisis, banks had enough provisions to cope.
"During the previous crisis, banks were the problem. Today, they
have a driving role to play and are taking part in the
solution," he said.
($1 = 0.9105 euros)
(Reporting by Michel Rose; Editing by Andrew Cawthorne)
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