Credit Agricole Net Beats Estimates, Repeats Earnings Goal
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Credit Agricole SA, France’s second-largest bank by assets, reported a smaller decline in profit than analysts estimated and reiterated its profit goal, sending shares 4.8 percent higher in Paris trading.
Net income fell 11 percent to 339 million euros ($488 million) in the second quarter, said the bank, based near Paris. That beat the 187 million-euro average estimate of 11 analysts surveyed by Bloomberg. Credit Agricole booked a 202 million-euro pretax writedown on Greek sovereign debt.