Caisse des Dépôts et Consignations, France’s state-owned finance house, on Thursday unveiled its first loss since it was established in 1816, demonstrating the perils of rescuing French companies in danger of collapse or foreign takeover.

CDC, which was set up in the wake of the Napoleonic wars to restore France’s public finances, recorded a net loss of €1.47bn ($1.94bn, £1.3bn) in 2008 after making provisions of €3bn on its assets.