Finance
Credit Agricole Beats Estimates on Trading Gain, Italy
- Firm’s traders have bucked trend toward weaker revenues
- Lending income in Italy also lifts third-quarter earnings
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Credit Agricole SA posted third-quarter results that beat analysts estimates as it benefited from higher interest rates in Italy and its traders outperformed peers.
Revenue at the Paris-based bank rose 19% and net income gained 33%, both ahead of estimates. The increases were driven by income from lending in Italy and a 26% jump in fixed-income trading, the firm said Wednesday, during a quarter where other European banks saw steep declines.