November 8, 2019 / 6:03 AM / 14 days ago

Credit Agricole Q3 rises as its investment bank shines

PARIS, Nov 8 (Reuters) - France’s Credit Agricole reported a 8.9% rise in quarterly net income on Friday, with its investment bank posting its highest third-quarter revenue since 2016.

Net profit rose to 1.20 billion euros ($1.33 billion), broadly in line with expectations for 1.14 billion euros, according to a Reuters survey of four analysts. Revenue rose by 4.8% to 5.0 billion euros.

France’s second-largest listed bank said that underlying revenue from capital markets and investment banking increased sharply, up 21.6% and driven by “strong commercial activity across almost all product lines”, as well as an upturn in advisory transactions. ($1 = 0.9054 euros) (Reporting by Maya Nikolaeva, Editing by Rosalba O’Brien)

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