Credit Agricole to Pay $103 Million Fine in Dividend Tax Case
By Elena Vardon
Credit Agricole's corporate and investment banking division agreed to pay a 88.25 million euro ($103.4 million) fine to resolve a case related to tax on dividend payouts.
The agreement was reached after the French National Financial Prosecutor's Office probed a number of securities lending and equity derivatives transactions that took place between 2013 and 2021. The government agency investigated whether the transactions were structured to avoid paying taxes on dividend payouts. The bank made less than 5 million euros per year from these transactions over the period, it said.
"This agreement, which does not constitute a criminal conviction and which does not entail any conviction of Credit Agricole CIB, was validated by the President of the Paris Judicial Court," the French bank said on Monday.
Credit Agricole added that the probe showed that it didn't knowingly encourage foreign clients to engage in transactions to evade tax.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
September 08, 2025 10:29 ET (14:29 GMT)
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