Credit Agricole back in Greece

Credit Agricole back in Greece

Athens, December 8, 2015/Independent Balkan News Agency

By Olga Mavrou

The French bank Credit Agricole left Greece 3 years ago selling Emporiki Bank to Alpha Bank, but now its back as a major stockholder of Alpha Bank. According to an announcement from Alpha Bank, Credit Agricole (through its subsidiary Credit Agricole Life) holds now  9.85% of Alpha Bank. So Credit Agricole is among the biggest  shareholders in greek banks after their recapitalization  This is due to the fact that Credit Agricole held bonds of Alpha Bank and those bonds were turned into shares because of the recapitalization