Shares in Crédit Agricole fell to a five-year low this morning following reports that the French banking group’s chief executive could be on the verge of quitting in the wake of losses incurred from the sub-prime crisis.

Georges Pauget, chief executive at the bank since September 2005, will attempt to solicit the backing of the board at a meeting next Tuesday, but could leave if it refuses to renew its confidence in him, according to a report published today by French daily newspaper Le Monde, which did not reveal its sources.