BES Credit Agricole

Credit Agricole: The French bank apologised to investors, saying that it had been "misled". , according to BBC. Credit Agricole, which has a 14.6% stake BES, said second quarter net income was 705m euros compared with profits last year of 1.3bn euros. Credit Agricole said 708m euros 563m had been written off. Portugal unveiled a plan to rescue BES on Monday after record losses of 3.6bn euros for the first half of the year. (news.financializer.com). As reported in the news.