Credit Agricole thinks it will get a net profit of 892m euros in the quarter and this would be down by 66% from last year.
The Calyon investment unit looks as if it will have to write off 1.2bn euros during the first three months of the year because of the financial trouble the bank is having.
And the second-largest bank in France, Societe Generale, has also been having difficulties and a 23% fall in profits in the first quarter of this year.
Losses at SocGen's global investment management department have been said to be to blame for the bank’s troubles.
Back in January this year, SocGen revealed 4.9bn euros in losses and said this was caused by deals carried out by rogue trader Jerome Kerviel.
