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5/5, 7:11 AM (Source: TeleTrader)
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Credit Agricole's revenues rise 7% to hit €9.7B in Q1

Credit Agricole Group's Revenues climbed 7% year-on-year to reach €9.68 billion in the first quarter of 2022, as its net income fell by 24.1% annually to €1.3 billion for the same period, the company's financial report revealed on Thursday.

On the other hand, Credit Agricole S.A.'s Q1 revenues jumped 8.1% year-on-year to €5.9 billion, with its net income declining 47.2% to amount to €552 million. Furthermore, the company's earnings per share also dropped by 55.5% on a yearly basis to land at €0.14.

"Regarding the Rusia-Ukraine conflict, the Group chooses cautious provisioning, while the risk on non-performing loans is low. The first-quarter results are solid, with a dynamic activity in all business lines," Credit Agricole S.A. CEO Philippe Brassac commented on the results.

Baha Breaking News (BBN) / SP