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Crédit Agricole: underlying net income down 12.4%

(CercleFinance.com) - Crédit Agricole has reported Q2 2019 net income, group share that is down 12.
4% at 1,242 million euros, or 0.40 euro per share, with underlying gross operating income that is down 1% at 2,140 million euros.

Underlying revenues increased by 0.6% to 5.179 million, mainly thanks to the sharp increase in revenues in the savings and insurance management division (up 6.6%), but also thanks to the performance of all business units.

These trends were accompanied by controlled underlying operating expenses excluding FRU, which rose by 2% (up 1.3% for businesses alone). The underlying non-FRU cost-income ratio rose 0.8 point to 58.6%.


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