Crédit Agricole: Q1 underlying earnings down
(CercleFinance.com) - Crédit Agricole SA has published Q1 2018 underlying net income, group share that is down 12.
1% at 788 million euros, a decline that reflects the temporary negative effects of strategic choices, FX factors and increased URF.
In addition to these factors, there is a comparison basis and unfavourable conditions for the group's corporate and investment banking businesses, which are only exposed to the credit/fixed income/FX businesses, the group added.
At 4.9 billion euros, the underlying net banking income increased by 2.5% (-0.7% like-for-like), while underlying non-URF operating expenses increased 3.7% to 3.101 billion (-0.7%, as did revenues, in organic terms).
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1% at 788 million euros, a decline that reflects the temporary negative effects of strategic choices, FX factors and increased URF.
In addition to these factors, there is a comparison basis and unfavourable conditions for the group's corporate and investment banking businesses, which are only exposed to the credit/fixed income/FX businesses, the group added.
At 4.9 billion euros, the underlying net banking income increased by 2.5% (-0.7% like-for-like), while underlying non-URF operating expenses increased 3.7% to 3.101 billion (-0.7%, as did revenues, in organic terms).
Copyright (c) 2018 CercleFinance.com. All rights reserved.