By Pietro Lombardi 
 

Credit Agricole SA (ACA.FR) reported its third-quarter results on Wednesday. Here's what you need to know:

 

NET PROFIT: France's second-largest listed bank by assets reported a roughly 3.2% increase in net profit to 1.10 billion euros ($1.26 billion). This beat analysts' expectations of a slight decline, according to a consensus provided by FactSet. Analysts saw the bank's net profit for the period at EUR1.06 billion.

 

REVENUE: The French banking giant's revenue grew slightly less than expected. The 5% revenue increase to EUR4.80 billion compares with analysts' expectations of EUR4.84 billion, according to the consensus.

 

WHAT WE WATCHED:

 

REVENUE STREAMS: The results were supported by growing revenue across the bank's business units. The bank's insurance and asset-management business reported an almost 12% increase in revenue to EUR1.45 billion.

 

CAPITAL: The Paris-based lender's core Tier 1 ratio--a key measure of capital strength--rose to 11.5% in September, up from 11.4% in June. This is in line with Deutsche Bank analysts' expectations.

 

COSTS: Operating expenses grew about 3.3% on year to EUR3 billion, in part due to growing costs at the bank's international retail-banking division.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

November 07, 2018 03:12 ET (08:12 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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