Credit Agricole Q2 Profit Declines On Weak Revenues - Quick Facts

(RTTNews) - French lender Credit Agricole Group (CRARF, CDA.L, ACA), comprising Crédit Agricole S.A. and Regional Banks, reported second-quarter stated net income Group share of 1.48 billion euros, down 18.2 percent from last year's 1.81 billion euros.

Underlying net income Group share was 1.79 billion euros, down 3.3 percent from last year, mainly due to the effects of the COVID-19 crisis, particularly on outstanding loan provisioning.

Stated revenues were 8.10 billion euros, down 4.6 percent from 8.49 billion euros a year ago. Underlying revenues remained flat at 8.53 billion euros.

Crédit Agricole S.A.'s net income group share was 954 million euros, down 21.9 percent from last year's 1.22 billion euros. Underlying net income was 1.11 billion euros, compared to 1.24 billion euros last year.

Stated revenues fell 4.9 percent to 4.90 billion euros, while underlying revenues edged up 0.1 percent to 5.19 billion euros.

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