January 13, 2017 / 8:42 AM / 9 months ago

Credit Agricole CIB says to stop acting as primary dealer for Austria, Ireland

LONDON, Jan 13 (Reuters) - French bank Credit Agricole CIB said on Friday it has decided to cease acting as a primary dealer in government bonds for Austria and Ireland, and in bills for the Netherlands.

The decision came after the bank reviewed and rationalised its government bond business following the impact of new regulations on banks’ balance sheet and profitability, a Credit Agricole CIB spokeswoman said in an emailed statement to Reuters.

The bank remains committed to the government bonds business and the activity is part of its fixed income franchise, the spokeswoman added. (Reporting by Abhinav Ramnarayan, editing by Nigel Stephenson)

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