Credit Agricole : Excellent net profit and sharp rise in the CET1 in Q1 2023
>Strong revenue growth and positive jaws - Crédit Agricole SA reported yesterday morning its Q1 2023 net profit with the application of IFRS 17 since 1 January. Revenues totalled € 6.12bn (+9.2% pro forma IFRS 17), above forecasts (consensus € 5.89bn, ODDO BHF € 5.74bn), with underlying revenue growth of 10.4% (and 12.6% excluding TLTRO). By business line, revenues beat expectations in: 1/ the large customers division (around 15% above forecasts) thanks to a jump 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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