Credit Agricole SA
ACA: XPAR (FRA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| WJj | LOCK|VB@ | LOCK|<$@s<k? |
Crédit Agricole: Growing Faster and Earning More Than We Expected; French Discount Looks Overdone
Crédit Agricole keeps outgrowing our forecasts. Revenue rose 8% in the second quarter of 2026 and customer loans 7% over the past year, while the return on tangible equity reached 14% in the first half. We have rebuilt our forecasts ahead of third-quarter results.
