Crédit Agricole Group: Resilient Performance in Q2 2020 Driven By Top Line Stability
Crédit Agricole Group's (CA or the Group) performance remained resilient in Q2 2020 despite the economic impact of the coronavirus disease (COVID-19). Reported net income group share was EUR 1.5 billion, a decline of 18% year-on-year (YoY). Specific items totalled a negative EUR 302 million in Q2 2020 compared to a negative EUR 33 million in Q2 2019. In Q2 2020 they mainly included the impact of the cooperative support given to SME and small business customers with business interruption insurance and in Q2 2019 they were mainly driven by accounting volatility items. Excluding specific items, the underlying net income group share was EUR 1.8 billion, down 3% YoY.
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