Caisse des Dépôts et Consignations, France’s state-owned finance house, on Thursday unveiled its first loss since it was founded in 1816. CDC recorded a 2008 net loss of €1.47bn ($1.9bn) after making provisions of €3bn on its assets; €2bn of the writedowns related to Dexia, the Franco-Belgian bank that CDC helped rescue last year, and in Eiffage, the construction group in which it built a 20% stake to counter a takeover attempt by Sacyr of Spain.

This entry was posted by Gwen Robinson on Friday, April 17th, 2009 at 4:52 and is filed under Capital markets. Tagged with cdc, dexia. Edit this entry.