Crédit Agricole: 55% rise in quarterly NBI

(CercleFinance.com) - Crédit Agricole SA has reported a 54.
7% increase in underlying net income (group share) to E1.93bn for Q1 2024, and a sharp 36.1% rise in underlying gross operating income to E3.15bn.

Also on an underlying basis (and excluding FSU), its cost/income ratio improved by 0.4 point to 53.7%, as the 9.6% rise in operating expenses to E3.65bn was outstripped by the 10.5% rise in revenues to E6.8bn, driven by all business lines.

Following on from the first quarter, Crédit Agricole SA has announced a 2024 earnings outlook that is one year ahead of the Ambitions 2025 medium-term plan, with underlying NBI in excess of E6bn in 2024.


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