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Credit Agricole Q2 net income drops 22% on looming loan losses

PARIS, Aug 6 (Reuters) - Credit Agricole SA, France’s second-biggest listed bank, reported a 22% drop in quarterly profit on Thursday as it took extra provisions against loans that may sour due to the COVID-19 crisis.

Net income fell to 954 million euros ($1.13 billion) in the second quarter, while revenue fell by 5% to 4.9 billion euros, broadly in line with a mean analyst estimate, according to IBES data from Refinitiv.

$1 = 0.8420 euros Reporting by Maya Nikolaeva; Editing by Sudip Kar-Gupta

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