Credit Agricole Bucks Trend as Lender Sees Resilient Trading

Revenue rose 5% year-on-year at large-customers unit
Bank plans a dividend increase despite tax surcharge

Credit Agricole announced on July 28 that Greek losses and costs related to the aid plan would lower earnings by as much as 850 million euros, though it still expected to report a profit.Photographer: Fabrice Dimier/Bloomberg

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By Fabio Benedetti Valentini

February 14, 2018 at 6:00 AM UTC

Updated on

February 14, 2018 at 6:34 AM UTC

This article is for subscribers only.

Credit Agricole SA finished 2017 with an unexpected increase in trading revenue as demand for buying and selling fixed-income securities defied the weak trend seen at most of its rivals.

France’s second-largest bank posted a 1 percent revenue gain at its trading business in the fourth quarter, according to a statement Wednesday. Three analysts surveyed by Bloomberg estimated declines between 4 percent and 20 percent. At the large-customers unit, which also includes corporate lending and securities services, revenue increased almost 5 percent from a year earlier.