Helix Investment Research
Wed, Feb. 17, 3:19 AM
- While posting fourth-quarter earnings that beat estimates, Credit Agricole (OTCPK:CRARY) said it would sell back stakes in more than three-dozen regional banks to provide more "financial flexibility."
- The €18B ($20B) transaction will increase Credit Agricole's common equity tier 1 ratio to 11%, and will ensure the lender can offer an all-cash dividend.
- The restructuring highlights the burden on European banks to fortify their balance sheets and improve transparency amid volatile markets and continuing pressure from regulators.
- Credit Agricole +7.8% in France.
Feb. 18, 2015, 6:53 AM
- Helped by a recovery in its investment banking activities and a sharp reduction in its provisions against loan losses, Credit Agricole (OTCPK:CRARY) today reported quarterly profit that beat market expectations.
- Net income for Q4 came in at €697M ($795M), up 13% from the same period in 2013.
- The bank also said it hopes to soon name a successor to its chief executive, Jean-Paul Chifflet, who retires in May. On Sunday, Philippe Brassac was reported to be the main candidate in the running.
May 7, 2013, 6:16 AM
May 11, 2012, 4:56 AM
Nov. 10, 2011, 3:31 AMCredit Agricole (CRARY.PK): Q3 net profit -65% to €258M ($350M) vs. forecast of €552M. Revenue +6.2% to €5.3B vs. €4.96B forecast. Booked €905M pretax writedown on Greek sovereign debt. Faces more damage from Italy, as it is one of the biggest foreign holders of the country’s sovereign debt. Shares -3.3% in Paris. (PR) | Nov. 10, 2011, 3:31 AM
Aug. 25, 2011, 2:52 AM
Credit Agricole's (CRARY.PK) Q2 net profit falls 10.6% to €339M ($488M) but soundly beats forecasts of €193.3M after a lower-than-expected €640M writedown of its Greek operations. The bank affirmed its long-term earnings targets, easing fears of further profit warnings because of Greece. (PR)| Aug. 25, 2011, 2:52 AM