SaltWire's Atlantic regional weather forecast for November 7, 2023 | SaltWirePARIS - Credit Agricole, 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. Credit Agricole performance on that front was better than that of its two French rivals, Societe Generale and BNP Paribas, as well as of Deutsche Bank and Barclays, as less volatile financial markets dented investment banks' earnings.
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