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Credit Agricole reports 27% Q4 profit jump, aided by Amundi and trading

Credit Agricole reports 27% Q4 profit jump, aided by Amundi and trading


Published on 2025-02-05 04:00:50 - Reuters
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  • Credit Agricole SA , France's second-biggest listed bank, blew past quarterly earnings forecasts on Wednesday with a 27% jump in profit, driven by insurance and asset management even as gains in its investment banking business lagged rivals.

Credit Agricole, France's second-biggest listed bank, reported a 27% jump in fourth-quarter net profit, driven by strong performances in its insurance, asset management, and trading divisions. The bank's net profit for the quarter was 1.33 billion euros, surpassing the 1.05 billion euros expected by analysts. This increase was primarily fueled by a 30% rise in revenue from its corporate and investment banking arm, particularly in fixed income, currency, and commodities trading, which saw a 17% revenue increase. Additionally, its asset management unit, Amundi, contributed significantly with a 20% profit increase. However, the bank also set aside 50 million euros for potential legal risks related to a tax fraud investigation involving dividend stripping. Despite these provisions, Credit Agricole's overall financial health appeared robust, with the bank also announcing a share buyback program of 1 billion euros.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/credit-agricole-reports-27-q4-profit-jump-aided-by-amundi-trading-2025-02-05/ ]
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