Credit Agricole in the first quarter reduced its net profit by 11%

French bank Credit Agricole reported the financial results of the first quarter of this year. In a press release, the bank said that during the earnings period, its net profit declined by 11% in annual terms to 763 million euros, since a year ago reports reflected the income from the acquisition of three banks in Italy, amounting to 86 million euros. According to analysts, the profit was expected at 794 million euros. Revenues amounted to 4 billion 860 million euros, a decrease of 1.1% over the year. At the same time, capital market operations brought the bank an annual revenue growth of 1.7% to 472 million euros. The tier 1 capital ratio was maintained by the French bank at the level of 11.5%. Since the beginning of the year, its capitalization has increased by 16.4% to 34.3 billion euros.

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