Word: nuovo
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Dates: during 1990-1999
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France's Credit Agricole, the world's 10th largest bank, has also declared its intention to expand Europe-wide but is taking its time. The bank last year bought a 13% share in Nuovo Banco Ambrosiano of Italy and is said to be scouting elsewhere. Other French banks are more hesitant. Both Credit Commercial and venerable Societe Generale have decided not to extend retail- banking networks outside their home territory. "The practice of offering universal banking services seems to us to be limited to the national territory," says Societe Generale chairman Marc Vienot. Abroad, "we plan to find niches...