Credit Agricole Outpaces Rivals as Profit Jumps Fourfold in Q1 2017
Posted: Wed May 10, 2017 6:04 pm
Credit Agricole SA profits rose sharply in the first quarter as revenue from fixed-income trading surged to the highest in more than two years. Like rivals in Europe and around the world, France’s second largest bank by assets benefited from a rebound in bond trading, supported by political uncertainty and as the U.S. Federal Reserve held the line on interest rates hikes.
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Credit Agricole said on Thursday that its earnings soared to €845 ($918 million) in the three months through March 2017 from €227 a year earlier, while revenue ... (read more)