Credit Agricole Profit Climbs on Boost From Investment Bank
By Michael Hennessey
Credit Agricole S.A. posted a rise in its third-quarter profit, helped by a strong performance in investment banking and its asset management unit.
The French lender on Friday reported that it made 1.99 billion euros ($2.22 billion) in net profit in the third quarter, up from 1.69 billion euros a year ago.
Revenue grew 7.5% to 7.09 billion euros, driven by a strong performance in the asset gathering and corporate and investment banking units, Credit Agricole said.
Analysts had estimated a net profit of 1.99 billion euros on revenue of 7.03 billion euros, according to an analyst consensus compiled by Visible Alpha.
The bank noted that loan production remains very strong in Italy, while mortgage lending has slowed in France.
Its common equity Tier 1 ratio--a measure of balance-sheet strength--stood at 11.2% at the end of the quarter, from 11.7% a year prior. The bank's key profitability metric, return on tangible equity, reached 14.2% for the first nine months of the year, compared to 15.4% a year ago.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
October 30, 2026 02:37 ET (06:37 GMT)
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