Lyonnais makes RI provisions

Lyonnais makes RI provisions

PARIS (Reuters): French state-owned bank Credit Lyonnais has
made US$40 million in special provision for Indonesia risks and
has cut its outstanding debt to South Korean companies by 25
percent in 1998.

The bank yesterday confirmed statements by its chairman Jean
Peyrelevade made at a Hong Kong symposium and reported in French
newspapers.

Credit Lyonnais has a three billion franc overall provision
for Asia risks which it has not touched.

In South Korea, Credit Lyonnais has outstanding loans which
are for 80 to 90 percent concentrated on the top five
conglomerates. It had $5.0 billion in loans outstanding to South
Korean companies at the end of the year.

The extra provision for Indonesia has been charged to the
operating profit for the first four months of the year.