Credit Agricole's Jumbo Financings Boost Investment Bank
- French lender says financing activity revenue gains in quarter
- Bank’s retail business LCL performed better than expected
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Credit Agricole SA’s investment bank and retail business are both benefiting from the thirst for credit.
Financing revenue jumped 17 percent in the second quarter after the bank provided advice and arranged debt financing on large deals including Altran Technologies SA’s takeover of Aricent Inc., helping the investment bank beat estimates. The bank’s French LCL retail business also did better than expected after seeing loan growth jump. The stock rose 2.4 percent to 12.24 euros at 12:44 p.m. in Paris.