Credit Agricole SA
ACA: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€71.90 | Sfhvj | Gtgvsfl |
Credit Agricole Earnings: Healthy Revenue Growth Continues to Reflect Lower French Retail Exposure
No-moat Credit Agricole posted a 29% year-on-year increase in attributable net income for the third quarter of 2023; earnings also came in 28% ahead of the company-compiled consensus estimate. Credit Agricole has more minor exposure to French retail banking than its listed French peers. As such, its results suffered less from the regulated nature of French mortgage and deposit interest rates, which has constrained the revenue growth of its peers.