2/14, 7:10 AM (Source: TeleTrader)
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Credit Agricole reports net income of €1.01B in Q4

Credit Agricole SA reported on Thursday its net income for the fourth quarter of 2018 at €1.01 billion, marking a 2.6% increase from the same period a year ago from €387 million. The financial institution posted revenue of €4.8 billion, a 4.3% increase compared to the same period the year before. Meanwhile, its earnings per share stood at €0.31, an increase of 24.2% compared to the fourth quarter in 2017.

The bank group's net income for the entire 2018 amounted to €4.4 billion, compared to €3.6 billion in 2017, or an increase of 20.6%. Its 2018 revenue stood at €19.7, a 5.9% increase compared to 2017, while its earnings per share amounted to €1.39, marking an increase of 23.4% compared to €1.12 a year ago.

Commenting on the report, CEO Philippe Brassac said: "In 2018, Credit Agricole SA's business lines surpassed the main objectives of the Medium-Term Plan one year ahead of schedule. This is proof of the strength of its universal banking model, which is the foundation of a strong, sustainable relationship," he noted.

Credit Agricole's shares jumped 0.85% at the end of session on Wednesday.

Breaking the News / GG