Credit Agricole's restructuring will leave it with a riskier set of businesses.
Narrow-moat Credit Agricole posted a strong second quarter with underlying profits up 43% to EUR 1.2 billion as revenue growth outweighed a slight increase in underlying expenses.The return on tangible equity for the first half year of 2017 came in at 11.3%, slightly below management’s target of 12%. Our fair value estimate of EUR 14 and narrow moat rating remain unchanged.Retail banking segment saw healthy growth driven by home and business loans of just above 10% each, while demand deposits i...
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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