Trending: Credit Agricole Impresses With Consensus-Beating 2Q
04 Agosto 2022 - 10:06AM
Noticias Dow Jones
Credit Agricole is among the most talked-about banks across news
items in Europe, according to Factiva data, after it said its
second-quarter profit and revenue beat expectations. Net profit
totaled EUR1.98 billion, the French lender said, while revenue rose
8.8% to EUR6.33 billion. Strong activity in capital markets and
investment banking drove the bank's results over the reporting
period, in which it reduced its exposure to Russia by around EUR400
million. Analysts paid close attention to the bank's fully-loaded
CET1 ratio, a measure of capital strength. At 11.1%, the ratio beat
views by 30 basis points, driven by the bank's insurance
operations, Citi analysts Azzurra Guelfi and Maria Semikhatova say
in a research note. The results boosted the bank's shares. At 1410
GMT, shares were up 4.8% at EUR9.55. Dow Jones & Co. owns
Factiva. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
August 04, 2022 10:51 ET (14:51 GMT)
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