Crédit Agricole sought to scotch rumours that it would bid for Société Générale, its bigger rival, when its chairman ruled out large acquisitions as it published worse fourth-quarter results than expected on Wednesday.
René Carron, chairman of France’s third biggest bank, pledged that the group, which is still digesting acquisitions made in Spain and Italy “will make organic growth its priority and it is not considering any significant new acquisitions”.
