Credit Agricole has an exposure of approximately € 6.4 billion (US $ 7 billion) to Russia and Ukraine. The French bank’s total exposure represents approximately 0.6% of its overall commercial loan portfolio and includes approximately € 4.9 billion relating to Russia, while commercial loan commitments for Ukraine are approximately € 1. 5 billion euros.
The French bank said Russia’s situation will have no impact on the distribution of its dividend for 2021. Last week, Raiffeisen Bank International AG announced that it was halting the payment of its dividend.
A growing number of European banks are trying to allay investor concerns about their exposure to Russia and Ukraine, as President Vladimir Putin reiterated over the weekend that the war will continue until Ukraine accepts his demands. The invasion has sent Russian currency and markets into a tailspin, raising concerns that companies will not be able to repay loans to European banks or that lenders will be forced to withdraw.