Credit Agricole : Solid results but revenues slightly lower than expected
>Revenues up 2% but a bit below our expectations - Yesterday morning Crédit Agricole SA reported Q3 2024 results with operating profit slightly lower than expected, but net profit beat expectations thanks to a very low tax rate. Revenue rose slightly to € 6,487m (+2.3% vs a demanding comparison base), 1.2% below consensus (€ 6,563m) and 0.8% lower than our estimate (€ 6,539m). In asset gathering, revenues grew 12.9%, but this was 3.5% below consensus with a miss in in...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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