Credit Agricole Group Q1 Results Climb; Expects To Reach FY25 Target A Year Ahead

(RTTNews) - French banking company Credit Agricole Group (CRARF.PK, CDA.L, ACA.PA) reported Friday that its first-quarter net income Group share climbed 42.8 percent to 2.384 billion euros from last year's 1.669 billion euros.

Underlying net income Group share amounted to 2.383 billion euros, up 40.8 percent from the prior year's 1.692 billion euros.

In the first quarter, Credit Agricole S.A.'s stated net income Group share amounted to 1.903 billion euros, an increase of 55.2 percent from the first quarter of 2023. Underlying net income Group share was 1.933 billion euros, a growth of 54.7 percent.

Credit Agricole Group's revenues for the quarter increased 6.7 percent to 9.525 billion euros from prior year's 8.927 billion euros. Underlying revenues were 9.475 billion euros, up 5.8 percent from 8.959 billion euros last year.

Credit Agricole S.A.'s revenues grew 11.2 percent from last year to 6.806 billion euros, and underlying revenues increased 10.5 percent to 6.797 billion euros.

Looking ahead, Philippe Brassac, Chief Executive Officer of Credit Agricole S.A., stated that the financial ambitions of the company's MediumTerm Ambitions 2025 Plan are expected to achieve a year ahead of schedule, i.e., by the end of 2024.

Underlying net income Group share is expected to exceed 6 billion euros in 2024.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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