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Credit Agricole beats forecasts on strong investment bank boost

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Credit Agricole (CAGR.PA), France's second-largest listed bank, posted better-than-expected quarterly results on Wednesday, driven by a strong performance of its investment bank and retail activities.

A Credit Agricole logo?is reflected in a window of a bank office in Nantes, France, May 10, 2023. REUTERS/Stephane Mahe/File Photo, France's second-largest listed bank, posted better-than-expected quarterly results on Wednesday, driven by a strong performance of its investment bank and retail activities.

Group revenues for the period came in at 6.34 billion euros, up 19% from a year earlier and also above expectations of 5.99 billion euros. The amount set aside by the bank for failing loans was also below expectations, at 439 million euros, boosting its bottom line.

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