Credit Agricole On Track for Full Cash Dividend; Shares Fairly Valued
Narrow-moat Credit Agricole reported solid third-quarter results as the company gears up for a full cash dividend in 2017. Underlying net income for the quarter increased 27% to EUR 1,019 million, mainly thanks to a decrease in operating expenses, flat cost of risk, and a sharp increase in revenue from large customers. Stated net income was boosted to EUR 1.9 billion, primarily as a result of a EUR 1.3 billion one-off related to restructuring. On these results, we plan to maintain our narrow moa...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.
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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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