Crédit Agricole: Q3 underlying NI up 11%
(CercleFinance.com) - Crédit Agricole SA reports underlying net income (group share) up 10.
9% to E1.69bn for Q3 2024, with underlying gross operating income up 5.5% at E2.83bn.
Also on an underlying basis, its cost/income ratio deteriorated by 0.6 point to 56.4%, with the 8.2% rise in operating expenses to E3.65bn, slightly outstripping the 7% increase in revenues to E6.48bn.
In particular the banking group pointed to growth in its savings management and insurance business (+12.9%), which benefited from buoyant activity and the integration of Degroof Petercam, as well as in its corporate banking business (+8.7%).
Quarter after quarter, the group publishes high-level results, confirming the prospect of a 2024 result one year ahead of Crédit Agricole SA's Ambitions 2025, CEO Philippe Brassac said.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
9% to E1.69bn for Q3 2024, with underlying gross operating income up 5.5% at E2.83bn.
Also on an underlying basis, its cost/income ratio deteriorated by 0.6 point to 56.4%, with the 8.2% rise in operating expenses to E3.65bn, slightly outstripping the 7% increase in revenues to E6.48bn.
In particular the banking group pointed to growth in its savings management and insurance business (+12.9%), which benefited from buoyant activity and the integration of Degroof Petercam, as well as in its corporate banking business (+8.7%).
Quarter after quarter, the group publishes high-level results, confirming the prospect of a 2024 result one year ahead of Crédit Agricole SA's Ambitions 2025, CEO Philippe Brassac said.
Copyright (c) 2024 CercleFinance.com. All rights reserved.