By Iain Gilbert
Date: Friday 03 May 2024
LONDON (ShareCast) - (Sharecast News) - French banking group Credit Agricole said on Friday that first-quarter earnings had grown as its corporate and investment banking units outperformed rivals.
Net profits rose to €1.9bn in the three months ended 31 March, above the €1.48bn expected by analysts, while sales rose 11% to €6.81bn, topping expectations for a reading of €6.47bn. Credit Agricole also noted that it had put aside €400.0m for bad loans in Q1, €105.0m less than expected.
However, despite reporting an overall rise in revenues, Credit Agricole said retail sales in France grew just 1.8% and said its net interest margin remained stable.
The French lender highlighted that revenues in its corporate and investment banking businesses, which make up quarter of all revenues, rose 4% year-on-year, while revenue from trading in fixed income, currencies and commodities shrank 3%, outperforming rival BNP Paribas.
As of 1010 BST, Credit Agricole shares were up 3.63% at €15.14 each.
Reporting by Iain Gilbert at Sharecast.com
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Currency | Euro |
Share Price | 13.04 |
Change Today | -0.40 |
% Change | -2.98 % |
52 Week High | 15.92 |
52 Week Low | 10.45 |
Volume | 18,637,626 |
Shares Issued | 3,052.74m |
Market Cap | 39,792m |
Beta | 0.92 |
Strong Buy | 3 |
Buy | 3 |
Neutral | 8 |
Sell | 4 |
Strong Sell | 1 |
Total | 19 |
Time | Volume / Share Price |
17:39 | 36,421 @ 13.04 |
17:37 | 9,076 @ 13.04 |
17:37 | 724 @ 13.04 |
17:36 | 397 @ 13.04 |
17:36 | 492 @ 13.04 |
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