Crédit Agricole: 43% increase in underlying net income.
(CercleFinance.com) - Crédit Agricole SA has announced Q2 2017 underlying net income, group share, of 1,174 million euros, up 43%, with a strong contribution from all businesses.
Underlying revenues increased by 6.5%, with sound resistance to pressure on local banking interest margins, an increase at other businesses.
The banking group furthermore boasts a sound control of operating expenses (+1%, despite the initial integration costs of Pioneer), a 3.3-point improvement in its cost/income ratio and a continued 21% reduction in the cost of credit risk.
Crédit Agricole SA's fully-loaded CET1 Ratio of 12.4% before the acquisition of Pioneer Investments, increased by 55 basis points over the quarter, thanks to the generation of earnings and the decline in weighted assets, well beyond the target of 11% in the medium-term plan.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Underlying revenues increased by 6.5%, with sound resistance to pressure on local banking interest margins, an increase at other businesses.
The banking group furthermore boasts a sound control of operating expenses (+1%, despite the initial integration costs of Pioneer), a 3.3-point improvement in its cost/income ratio and a continued 21% reduction in the cost of credit risk.
Crédit Agricole SA's fully-loaded CET1 Ratio of 12.4% before the acquisition of Pioneer Investments, increased by 55 basis points over the quarter, thanks to the generation of earnings and the decline in weighted assets, well beyond the target of 11% in the medium-term plan.
Copyright (c) 2017 CercleFinance.com. All rights reserved.