11/10/2021, 7:02 AM (Source: TeleTrader)
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Credit Agricole's net income jumps 43% to €1.4B in Q3

Credit Agricole SA said on Wednesday its stated net income for the third quarter of 2021 stood at €1.4 billion, marking a 43% increase from the same period a year ago and topping market estimates. Underlying net income was up 27% to €1.4 billion.

Revenues climbed 7% to reach €5.5 billion and the cost/income ratio stood at 58.9%. Meanwhile, Credit Agricole Group's revenue climbed 6% to €9 billion and net income rose 26% to €2.2 billion.

"We are reporting excellent results, at all-time highs, in keeping with previous quarters. Business is strong, driven in particular by the effectiveness of public measures. The Group’s Universal Customer-focused Banking model allows for steady revenue growth and gives us one of the sector’s highest profitability rates in Europe," CEO Philippe Brassac stated.

Baha Breaking the News (BBN) / NP