Credit Agricole quarter hurt by Greek-debt charge
TEL AVIV (MarketWatch) — Credit Agricole Group, the Paris banking firm, reported third-quarter net income fell 36% to 930 million euros (.26 billion), as the group posted a 60% impairment on Greek-government bonds. Revenue rose 3.7% to €8.77 billion. The bond impairment amounted to €637 million. On the operating side, revenue was particularly strong in retail banking, Credit Agricole said in a Thursday statement. Lending at its regional banks stood out, with residential mortgages up 7.1% and business loans up 5.9% in the quarter, the firm said. The core tier 1 capital ratio was 8.9% for the first nine months.
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Credit Agricole quarter hurt by Greek-debt charge is a post from: The Forex Trading System Blog
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