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    ACA   FR0000045072

CRÉDIT AGRICOLE S.A.

(ACA)
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Credit Agricole : 3Q Net Profit Beat Expectations -- Earnings Review

11/04/2020 | 03:39am EST

By Pietro Lombardi

Credit Agricole SA released third-quarter results on Wednesday. Here is what you need to know.

NET PROFIT: Quarterly net profit dropped roughly 19% on year to 977 million euros ($1.15 billion), beating analysts' expectations of EUR747 million, according to a consensus provided by FactSet.

REVENUE: Revenue rose 2.4% to EUR5.15 billion.

WHAT WE WATCHED:

-INVESTMENT BANK: The French bank joined other European peers reporting strong results from market operations. Credit Agricole's fixed-income revenue grew almost 27%.

-PROVISIONS: The lender set aside EUR605 million for potential loan losses, an increase of almost 81% from a year earlier but less than in the second quarter. "Cost of risk was better than expected," Citi says.

-CAPITAL: The bank's core Tier 1 ratio --a key measure of capital strength--increased to 12.4% at the end of September from 12% in June. This was "significantly stronger than expected, driven by stronger earnings and lower RWAs," Jefferies says, referring to risk-weighted assets, a measure of a bank's assets weighted by how risky they are.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

11-04-20 0338ET

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Analyst Recommendations on CRÉDIT AGRICOLE S.A.
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Financials
Sales 2021 22 380 M 25 318 M 25 318 M
Net income 2021 5 491 M 6 212 M 6 212 M
Net Debt 2021 - - -
P/E ratio 2021 6,82x
Yield 2021 8,28%
Capitalization 37 257 M 42 056 M 42 149 M
Capi. / Sales 2021 1,66x
Capi. / Sales 2022 1,63x
Nbr of Employees 72 520
Free-Float 38,8%
Chart CRÉDIT AGRICOLE S.A.
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Crédit Agricole S.A. Technical Analysis Chart | ACA | FR0000045072 | MarketScreener
Technical analysis trends CRÉDIT AGRICOLE S.A.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 23
Last Close Price 12,24 €
Average target price 15,25 €
Spread / Average Target 24,6%
EPS Revisions
Managers and Directors
Philippe Brassac Chief Executive Officer
Jérôme Grivet Chief Financial Officer & Deputy General Manager
Dominique Lefèbvre Chairman
Stéphane Priami Deputy General Manager
Martine Boutinet Head-Compliance