Latest news with #CreditAgricole
Zawya
2 hours ago
- Business
- Zawya
Egypt: Credit Agricole's H1 2025 consolidated profits drop 99.9% YoY
Arab Finance: Credit Agricole Egypt (CIEB) recorded a 99.92% year-on-year (YoY) plunge in consolidated net profits after tax and minority interest in the first half (H1) of 2025 to EGP 3.554 billion from EGP 4.213 billion, the bank stated. Net interest income hit EGP 5.450 billion during the January-June period of 2025, up from EGP 5.393 billion in the same period a year ago. The bank's standalone net profits after tax dropped to EGP 3.533 billion in H1 2025, compared to EGP 4.198 billion in H1 2024. Meanwhile, standalone net interest income hiked to EGP 5.433 billion from EGP 5.376 billion. Launched in 1996 and listed on the EGX in 2006, Crédit Agricole has subsidiaries operating across Egypt, working on commercial and professional services, in addition to thrifts and mortgage finance. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Reuters
4 hours ago
- Business
- Reuters
Credit Agricole Q2 earnings beat estimates on U.S. capital gain
PARIS, July 31 (Reuters) - Credit Agricole SA ( opens new tab, France's second-largest listed bank, reported higher than expected quarterly earnings on Thursday, boosted by a one-time capital gain and stronger results at its insurance and investment banking units. Net income over the three months to June advanced 31% from a year earlier to 2.39 billion euros ($2.73 billion), beating the 2.03 billion average of a company-compiled analyst consensus. The surge was largely due to the deconsolidation of the U.S. division of Amundi ( opens new tab, Credit Agricole's listed asset management arm. Amundi, Europe's largest fund manager, agreed last year to exchange its U.S. business for an up to 26% stake in Nasdaq-listed asset manager Victory Capital (VCTR.O), opens new tab, resulting in the one-time, non-monetary capital gain of 453 million euros. Second-quarter revenues were up 3.1% to 7 billion euros, broadly in-line with expectations. Credit Agricole's insurance division delivered results nearly 13% higher, while its investment banking arm also supported earnings with growth of almost 7%. However, earnings at the bank's French retail unit declined, dragged down by a 3.4% drop in net interest income for the period, unlike rivals Societe Generale and BNP Paribas, which both reported higher NII in the country. NII also fell in Italy, Credit Agricole's second-biggest market after France, by 4.4%. The listed entity of Credit Agricole Group, which comprises 39 regional banks, has been embroiled in the wave of Italian banking consolidation in recent months by becoming Banco BPM's ( opens new tab largest shareholder. BPM has been a takeover target for Italy's UniCredit ( opens new tab, which recently dropped its bid. The French lender recently asked the European Central Bank if it could increase its stake in BPM above a 20% threshold, while ruling out that it would takeover the Italian bank. "This is an operation to clarify the accounts. Beyond that, BPM remains an important industrial partner for the group," CEO Olivier Gavalda told reporters. Credit Agricole achieved its 2025 targets a year head of schedule thanks to record results in 2024, leaving several analysts asking to hear more about the group's next plan. The French lender said it would present it's next medium-term plan on Nov. 18. ($1 = 0.8752 euros)
Yahoo
5 hours ago
- Business
- Yahoo
Credit Agricole Q2 earnings beat estimates on U.S. capital gain
By Mathieu Rosemain PARIS (Reuters) -Credit Agricole SA, France's second-largest listed bank, reported higher than expected quarterly earnings on Thursday, boosted by a one-time capital gain and stronger results at its insurance and investment banking units. Net income over the three months to June advanced 31% from a year earlier to 2.39 billion euros ($2.73 billion), beating the 2.03 billion average of a company-compiled analyst consensus. The surge was largely due to the deconsolidation of the U.S. division of Amundi, Credit Agricole's listed asset management arm. Amundi, Europe's largest fund manager, agreed last year to exchange its U.S. business for an up to 26% stake in Nasdaq-listed asset manager Victory Capital, resulting in the one-time, non-monetary capital gain of 453 million euros. Second-quarter revenues were up 3.1% to 7 billion euros, broadly in-line with expectations. Credit Agricole's insurance division delivered results nearly 13% higher, while its investment banking arm also supported earnings with growth of almost 7%. However, earnings at the bank's French retail unit declined, dragged down by a 3.4% drop in net interest income for the period, unlike rivals Societe Generale and BNP Paribas, which both reported higher NII in the country. NII also fell in Italy, Credit Agricole's second-biggest market after France, by 4.4%. The listed entity of Credit Agricole Group, which comprises 39 regional banks, has been embroiled in the wave of Italian banking consolidation in recent months by becoming Banco BPM's largest shareholder. BPM has been a takeover target for Italy's UniCredit, which recently dropped its bid. The French lender recently asked the European Central Bank if it could increase its stake in BPM above a 20% threshold, while ruling out that it would takeover the Italian bank. "This is an operation to clarify the accounts. Beyond that, BPM remains an important industrial partner for the group," CEO Olivier Gavalda told reporters. Credit Agricole achieved its 2025 targets a year head of schedule thanks to record results in 2024, leaving several analysts asking to hear more about the group's next plan. The French lender said it would present it's next medium-term plan on Nov. 18. ($1 = 0.8752 euros) 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Reuters
2 days ago
- Business
- Reuters
Amundi second-quarter profit misses expectations, shares fall
PARIS, July 29 (Reuters) - Asset manager Amundi ( opens new tab reported weaker-than-expected quarterly profit on Tuesday as margins came under pressure from lower net management fees partly due to a depreciation in the U.S. dollar, sending its shares down nearly 6% in early trading. Adjusted net income over the April-to-June period fell 4.5% from a year earlier to 334 million euros ($386 million), below the 345 million euros expected on average by analysts polled by the company. Net revenue fell 1% to 790 million euros, also below expectations. Shares in Europe's largest asset manager, which is controlled by French bank Credit Agricole ( opens new tab, fell nearly 6% at market open and were down 4.3% by 0749 GMT. Analysts at Goldman Sachs said Amundi's margins were hit by a decrease in net management fees, due to a weaker U.S. dollar, a greater share of institutional clients who pay lower fees, and inflows into lower-margin products like passive and fixed income funds. Net inflows in the second quarter were 20.4 billion euros ($23.65 billion), bringing total assets under management to a new record of 2.27 trillion euros. Amundi said institutional investors and third-party distributors poured money into both passive and active strategies, especially those focused on European markets, as clients seek to rebalance the allocations of their assets. "What we saw a lot of during the first half of the year was, first and foremost, many European clients repatriating and diversifying their allocations," CEO Valerie Baudson told reporters on a call. "In particular, they repatriated a lot of money that had been invested outside Europe back to Europe. We also saw a lot of interest from American and Asian clients," she said. She added that she expected minimal impact on European economic growth from the framework trade agreement struck between the United States and the European Union. ($1 = 0.8625 euros)
Yahoo
2 days ago
- Business
- Yahoo
Amundi second-quarter profit misses expectations, shares fall
By Mathieu Rosemain and Bertrand De Meyer PARIS (Reuters) -Asset manager Amundi reported weaker-than-expected quarterly profit on Tuesday as margins came under pressure from lower net management fees partly due to a depreciation in the U.S. dollar, sending its shares down nearly 6% in early trading. Adjusted net income over the April-to-June period fell 4.5% from a year earlier to 334 million euros ($386 million), below the 345 million euros expected on average by analysts polled by the company. Net revenue fell 1% to 790 million euros, also below expectations. Shares in Europe's largest asset manager, which is controlled by French bank Credit Agricole, fell nearly 6% at market open and were down 4.3% by 0749 GMT. Analysts at Goldman Sachs said Amundi's margins were hit by a decrease in net management fees, due to a weaker U.S. dollar, a greater share of institutional clients who pay lower fees, and inflows into lower-margin products like passive and fixed income funds. Net inflows in the second quarter were 20.4 billion euros ($23.65 billion), bringing total assets under management to a new record of 2.27 trillion euros. Amundi said institutional investors and third-party distributors poured money into both passive and active strategies, especially those focused on European markets, as clients seek to rebalance the allocations of their assets. "What we saw a lot of during the first half of the year was, first and foremost, many European clients repatriating and diversifying their allocations," CEO Valerie Baudson told reporters on a call. "In particular, they repatriated a lot of money that had been invested outside Europe back to Europe. We also saw a lot of interest from American and Asian clients," she said. She added that she expected minimal impact on European economic growth from the framework trade agreement struck between the United States and the European Union. ($1 = 0.8625 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
