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From Times Staff and Wire Reports

Credit Lyonnais Posts Loss: Real estate problems and troubles related to loans made to former Metro-Goldwyn-Mayer owner Giancarlo Parretti contributed to a $332-million net group loss for the French-owned bank last year. Credit Lyonnais set aside $2.6 billion, mainly to cover bad real estate and Parretti-related loans. Credit Lyonnais took possession of MGM last year after Parretti defaulted on loans. Separately, MGM said that it received a vote of confidence when Credit Lyonnais formally agreed to support the studio’s business plan that calls for much more film production.

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