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Credit Agricole profit just below estimates on weak retail, capital markets

18:00 15-05-2018
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 Credit Agricole’s <CAGR.PA> quarterly profit fell short of expectations on Tuesday as lower revenue from French retail and capital markets trading ate into gains from asset management at the banking group, Euronews reports.

First-quarter net income rose 1.2 percent to 856 million euros (760 million pounds), slightly lower than analysts’ estimates of 878 million euros, according to a Reuters poll of 6 analysts.

Revenues rose 4.4 percent to 4.91 billion euros, compared to 4.98 billion expected by analysts.

Credit Agricole said the “disposal of non-strategic entities, exchange rate variations and regulatory contributions weighed on the results”.