Credit Agricole Achieves Its 2019 Targets a Year Ahead of Time
No-moat Credit Agricole reported attributable net income of EUR 4.4 billion for the 2018 fiscal year. This is 21% higher than 2017 and ahead of the EUR 4.2 billion we estimated. A solid 4% increase in revenue was supported by a 24% decline in loan-loss provisions and a 15% decline in taxes. We often view preprovision profits as the best indicator of underlying performance, and Credit Agricole generated respectable growth of 11%. We have increased our fair value estimate to EUR 12 per share from ...Credit Agricole is active in the market of retail banking and related businesses. Co. provides day-to-day banking, savings products, mortgage and consumer loans, insurance, private banking, asset management, lease finance and factoring, corporate and investment banking. Its activities can be divided into six business lines: French Retail Banking - Regional Banks; French Retail Banking - LCL; International Retail Banking; Specialized Financial Services; Savings Management and Insurance; and Corporate and Investment Banking. Co.'s customers are personal customers, farmers, small businesses, companies and local authorities. As of Dec 31 2013 Co.'s total assets amounted to Euro1,536,873,000,000.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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