French bank loses €600m in trading 'incident'

The banking network, which has more than 26 million customers, says it has taken disciplinary action against a reported six people for exceeding trading limits in size and risk. It follows January’s rogue trading scandal at Société Générale, where a series of transactions by the now infamous Jérôme Kerviel cost the bank up to €4.9bn. The Paris-based Caisse d’Epargne says the incident will have “no impact on its customers” and the bank has substantial liquidity – more than €20bn – to cover the loss. Caisse d’Epargne is currently in merger talks with rival Groupe Banque Populaire. Co...