Credit Agricole Shares Fall After Results Miss Forecasts

By Adria Calatayud

Credit Agricole shares fell after the French bank's first-quarter results missed analysts' forecasts, with revenue coming in weaker than expected and the Middle East war driving up provisions for bad loans.

Shares in Credit Agricole were down 6% in European morning trading, erasing the stock's gains over the past year.

The bank reported a quarterly net profit of 1.68 billion euros ($1.96 billion), up 1.8% compared with the year-earlier period. Analysts polled by Visible Alpha had forecast 1.72 billion euros.

Revenue was up 0.9% at 6.99 billion euros, against expectations of 7.11 billion euros based on the same consensus.

The bank said it adopted a prudent approach to provisioning in the context of the conflict in the Middle East that led it to take a cost-of-risk hit of 547 million euros, or 32% bigger than in the same period last year.

Credit Agricole's results look underwhelming and might trigger cuts to consensus estimates, analysts at Keefe, Bruyette & Woods wrote in a note to clients. With guidance unchanged and its capital position weaker than expected, shares could fall under pressure in the near term, the analysts added.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

April 30, 2026 05:21 ET (09:21 GMT)