PARIS, Aug 4 (Reuters) – Credit score Agricole SA CAGR.PA beat market expectations for second-quarter earnings amid report exercise in its funding banking division as torrid monetary markets boosted shoppers’ demand for hedging merchandise.
Web earnings got here in at 1.98 billion euros ($2 billion), a determine about 800 million euros greater than the common estimate of analysts. Analysts additionally underestimated revenues, which rose 8.8% to six.33 billions euros, roughly 10% greater than forecast.
France’s second-largest listed financial institution – additionally known as CASA – stated it loved a optimistic ‘jaws’ impact as prices grew slower than enterprise at a charge of 6.1% at 3.45 billion euros.
($1 = 0.9838 euros)
(Reporting by Julien Ponthus; Modifying by Matthieu Protard/Sudip Kar-Gupta)
((julien.ponthus@thomsonreuters.com; 02075426189; Reuters Messaging: julien.ponthus.thomsonreuters.com@reuters.web))
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