Crédit Agricole: Q1 underlying EPS up 79%
(CercleFinance.com) - Crédit Agricole has reported underlying EPS of E0.
37, up 78.8% for Q1 2023, as well as underlying gross operating income of E2.31bn, up 26.8%.
Underlying revenues increased by 10.4% to E6.15bn, driven by the savings management and insurance (+11.3%) and retail banking (+19.9%) divisions, while retail banking and specialised financial services were penalised by rising interest rates.
With underlying operating expenses excluding the RIF rising by just 6.9% (+6.3% for the business lines excluding the AHM division), the banking group's underlying cost/income ratio excluding the RIF improved by 1.8% to 54.1%.
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37, up 78.8% for Q1 2023, as well as underlying gross operating income of E2.31bn, up 26.8%.
Underlying revenues increased by 10.4% to E6.15bn, driven by the savings management and insurance (+11.3%) and retail banking (+19.9%) divisions, while retail banking and specialised financial services were penalised by rising interest rates.
With underlying operating expenses excluding the RIF rising by just 6.9% (+6.3% for the business lines excluding the AHM division), the banking group's underlying cost/income ratio excluding the RIF improved by 1.8% to 54.1%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.