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If confirmed by auditors, that would lead to a 61.4 billion real writedown, an amount equal to more than half the company's current 120-billion-real ($43.3 billion) market value.
Eurogroup chief Jean-Claude Juncker on Friday dismissed the possibility of a writedown on Cypriot sovereign debt, saying it would put credibility of the euro zone at risk.
Credit Agricole announced a 1.96bn euro writedown on the sale of Greek unit Emporiki, in line with expectations but taking the total cost of its disastrous foray into the debt-stricken country to around 7.5bn euros.
"There could be some minor writedowns in Q4, but they're negligible," he said, adding that the company expected no writedowns outside the retail brokerage business.
The lender has amassed a tally of writedowns and costs from the financial maelstrom of almost 17 billion euros since last year,making the now partly state-owned bank one of Europe's highest profile casualties.
The writedowns and losses combined add up to almost half the cash raised by B&B in an emergency u400m rights issue completed earlier this month.
RBS swung to its first-ever reported loss from a pounds 5.1 billion profit a year ago after being hit by the writedowns on credit products.
NatWest owner RBS had already alerted investors to a pounds 5.9 billion credit crunch writedown in April.
NatWest owner RBS had already alerted investors to a pounds 5.9bn credit crunch writedown when it launched the rights issue in April.
Credit Suisse, Switzerland's second largest bank, has so far fared better than the country's largest bank, UBS, which has posted writedowns of more than SFr 37 billion as well as its first-ever full-year loss in 2007.
US-based Citigroup, Inc (NYSE: C) is expected to announce further writedowns.
CINCINNATI -- Kroger Co., hammered by asset writedowns and merger-related costs, sustained a 48.8% bottom-line decline during the 16 weeks ended May 20.