Credit Lyonnais
Article Abstract:
Credit Lyonnais reported a loss of 12 billion French francs for 1994, a 100% increase on forecast losses. The French government's rescue package has yet to be approved by the European Commission. The bank is affected by high costs and poor quality loans, and aims to improve productivity to help offset these problems. European labor laws hamper a rapid restructuring of the bank's branches. The bank forecasts a small profit for 1995, but buying shares in Credit Lyonnais involves risk.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Midland launches cheap share service
Article Abstract:
Midland Bank is offering a low-cost share dealing service for investors who do not have to use nominees and can also obtain limited advice. The service allows dealing in real time and is easily accessible. A monthly newsletter is available and advice in writing is gievn for questions on specific stocks. This launch could represent a trend away from execution-only services, and is not likely to push prices downwards for brokers offering a more personalised service.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Credit Lyonnais
Article Abstract:
Credit Lyonnais reported a profit for 1st half 1995, but still faces difficulties. Bad debts have been hived off to a subsidiary, but loans will incur over 1 billion French francs costs for 1996. There was a net rise in customer accounts for Jul 1995, the first time since the bank's crisis. Bad debt provisions have been reduced. The state has claims on the bank's profits for two decades and Credit Lyonnais shares represent a risk for investors.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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