Crédit Agricole, France's largest retail bank, is set to become the country’s biggest loser so far from the US sub-prime crisis when it announces an additional write-down to the €2.5bn ($3.7bn) already disclosed. Financial Times

France’s third-largest bank by market value would not comment yesterday, but it is believed to be facing further losses due to its exposure to US monolines, or bond insurers.

It could announce a writedown of between €650m-€900m on March 5 when it presents its full-year results.