Credit Agricole's corporate and investment banking unit weigh on profitability
Reuters
Published Aug 02, 2019 06:12
Credit Agricole's corporate and investment banking unit weigh on profitability
PARIS (Reuters) - Credit Agricole (PA:CAGR), France's second-largest bank in terms of market capitalisation, said on Friday that a weak performance at its corporate and investment unit had weighed on its profits during the second quarter.
Credit Agricole's overall net profit fell 15% to 1.22 billion euros (1.12 billion pounds) out of revenues down 0.4% to 5.15 billion euros.
UBS analysts had expected a net profit of 1.23 billion.
Credit Agricole's corporate and investment banking unit's net profit fell 22% to 460 million euros.
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Written By: Reuters
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