ACA Credit Agricole SA

Credit Agricole is among the most talked-about banks across news items in Europe, according to Factiva data, after it said its second-quarter profit and revenue beat expectations. Net profit totaled EUR1.98 billion, the French lender said, while revenue rose 8.8% to EUR6.33 billion. Strong activity in capital markets and investment banking drove the bank's results over the reporting period, in which it reduced its exposure to Russia by around EUR400 million. Analysts paid close attention to the bank's fully-loaded CET1 ratio, a measure of capital strength. At 11.1%, the ratio beat views by 30 basis points, driven by the bank's insurance operations, Citi analysts Azzurra Guelfi and Maria Semikhatova say in a research note. The results boosted the bank's shares. At 1410 GMT, shares were up 4.8% at EUR9.55. Dow Jones & Co. owns Factiva. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

August 04, 2022 10:51 ET (14:51 GMT)

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