Credit Agricole 2Q Net Profit Rose
03 Agosto 2018 - 7:37AM
Dow Jones News
By Pietro Lombardi
Credit Agricole SA (ACA.FR) said Friday that its second-quarter
net profit rose, supported by growing revenues in most business
divisions.
Net profit for the period grew 6.4% to 1.44 billion euros ($1.68
billion), the bank said.
France's second-largest listed bank by assets reported revenue
of EUR5.17 billion, up from EUR4.71 billion a year earlier.
Excluding exceptional items, underlying net profit rose almost
20% on the year to EUR1.42 billion, the bank said.
"In the second quarter of 2018, Credit Agricole S.A. generated
its highest level of underlying net income Group share since its
IPO," Chief Executive Philippe Brassac said.
Credit Agricole's corporate and investment bank reported a 12%
increase in revenue to EUR1.53 billion and a 34% increase in net
profit to EUR578 million.
Revenue and net profit fell on the year at its retail lender
LCL, the bank said.
Credit Agricole's core Tier 1 ratio, a key measure of capital
strength, was stable at 11.4% in June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
August 03, 2018 01:22 ET (05:22 GMT)
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