Credit Lyonnais wants your love

Article Abstract:

Credit Lyonnais SA of France has launched a new television spot advertisement to restore its reputation after disputes between EU and France regarding its future. The TV commercial, which was aired for ten days in May in France, was developed by ad agency, Devarrieuxvillaret. Credit Lyonnais spokesperson Laurence Benoit wants to convince people that now the bank is more viable and now serves 5 million clients via its 10,000 salespersons. The bank formerly had repeated government bailouts that cost taxpayers an estimated 125 billion French francs or $20.69 billion.

Comment:

Launches a new TV spot advertisement to restore its reputation after disputes between EU and France regarding its future

Commercial Banks, Commercial Banking, Advertising, Credit Lyonnais

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French government plans to approve initial offering of CNP within days

Article Abstract:

Caisse Nationale de Prevoyance (CNP) of France, a state-controlled insurance company, will make an initial public offering of stock following the expected approval of the goverment. CNP's 43% stake owned by the government will be divested. France, however, will retain a symbolic 1% stake and keep CNP under indirect state control. The insurer, which is France's largest, is the leader in the personal-insurance sector with a 16% market share. The company's 1997 net profit on premium income of 111 billion French francs amounted to 1.6 billion francs ($276.1 million).

Comment:

A state-controlled insurer will make an initial public offering of stock following the expected approval of the governent

Insurance, Insurance Carriers and Related Activities, Organizational history, Caisse Nationale de Prevoyance

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Elf's diversity helps to offset low oil prices

Article Abstract:

Analysts said that Elf Aquitaine SA is performing well despite dropping oil prices. The diversity of the petroleum firm has helped to offset the lower prices during the first-half of 1998. During the first-half of 1998, Elf posted a 13% fall in net profits to 4.59 billion French francs ($782.4 million). The company's first-half revenues also fell 12% to 113 billion francs due to the major drop in crude prices.

Sales, profits & dividends, Petroleum, Petroleum and Coal Products Manufacturing, Elf Aquitaine S.A.

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