French bank admits €515m losses last week

A French bank today admitted it lost more than €515m on the world markets last week.

Caisse d’Epargne said the loss was triggered by the “extreme market volatility” and the market crash.

The bank said the loss will not affect its financial solidity because it has capital of more than €16bn and significant liquidity.

Caisse d’Epargne also said it had disciplined those behind the loss and informed regulators.