Credit Agricole 3Q Net Profit, Revenue Rose -- Earnings Review
November 08 2019 - 04:15AM
Dow Jones News
By Pietro Lombardi
Credit Agricole SA (ACA.FR) reported third-quarter results on
Friday, the last of France's biggest banks to do so. Here is what
you need to know:
PROFIT: France's second-largest listed bank by assets posted a
8.9% increase in net profit for the period to 1.20 billion euros
($1.33 billion). This compares with analysts' expectations of
EUR1.14 billion, according to a consensus forecast provided by
FactSet.
REVENUE: The top-line figure rose 4.8% to EUR5.03 billion.
Analysts had expected revenue of EUR5.02 billion.
WHAT WE WATCHED:
-FRENCH RETAIL: Earnings at the bank's French retail business
fell 3.9% on year while revenue was flat.
-INVESTMENT BANK: Underlying revenues from capital markets and
investment banking rose roughly 22% on year. The bank's large
customers division, of which trading operations are a part, posted
a 16% increase in earnings.
-CAPITAL: Credit Agricole's core Tier 1 ratio, a key measure of
capital strength, rose to 11.7% in September from 11.6% in
June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 08, 2019 04:00 ET (09:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Credit Agricole (EU:ACA)
Historical Stock Chart
From Feb 2024 to Mar 2024
Credit Agricole (EU:ACA)
Historical Stock Chart
From Mar 2023 to Mar 2024