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Credit Agricole Q2 net more than doubles

Credit Agricole Q2 net more than doubles

French bank Credit Agricole SA said Thursday its net profit more than doubled in the second quarter after it cut down on risk at its investment bank.
France's largest retail bank by clients reported net profit of ⁈llion ($286.83 million) for the three months through June, compared with ⁈lion a year earlier.
The bank said that it expects the "negative impact" of toxic assets on earnings "will gradually reduce in the future."
Revenue gained 40 percent to ⁈illion in the second quarter from a year earlier.
Chief Executive Georges Pauget said retail banking, insurance, asset management and consumer finance delivered "very good" performances, despite a difficult economic environment.
"Credit Agricole has fully integrated the lessons learnt from the crisis and has adapted its business model to meet the needs of the real economy," he said in a statement.


Updated : 2020-12-02 12:36 GMT+08:00