for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

Credit Agricole's corporate and investment banking unit weigh on profitability

PARIS, Aug 2 (Reuters) - Credit Agricole, France’s second-largest bank in terms of market capitalization, said on Friday that a weak performance at its corporate and investment unit had weighed on its profits during the second quarter.

Credit Agricole’s overall net profit fell 15% to 1.22 billion euros ($1.34 billion) out of revenues down 0.4% to 5.15 billion euros.

UBS analysts had expected a net profit of 1.23 billion.

Credit Agricole’s corporate and investment banking unit’s net profit fell 22% to 460 million euros.

$1 = 0.9024 euros Reporting by Inti Landauro and Matthieu Protard; Editing by Sudip Kar-Gupta

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up