Calyon, the corporate and investment banking arm of France’s Crédit Agricole, suffered a €226m ($284m) net loss in the third quarter on the back of impairment charges related to the US mortgage market that overshadowed solid financing revenues and a recovery in its capital markets business.

The French corporate and investment bank's quarterly loss compared with a €11m net profit in the third quarter last year, when profits were dragged down by writedowns and a €250m proprietary trading loss.