- Credit Agricole’s net income for the first quarter of the year was EU1.90 billion, marking a 55% year-on-year increase that exceeded the EU1.5 billion estimates.
- The income from Large Customers surged by 92% year-on-year, hitting EU722 million and surpassing the estimate of EU482.5 million.
- Asset Gathering income rose by 2.6% year-on-year to EU716 million, slightly above estimated EU652.5 million.
- Specialised Financial Services noted a 12% year-on-year increase in net income to EU142 million, albeit falling short of the EU168.6 million estimate.
- French Retail Banking net income rose 15% year-on-year to EU173 million, but failed to meet the EU193.1 million estimate.
- International Retail Banking net income was EU257 million, marking a 44% year-on-year increase that exceeded the EU174 million estimates.
- Overall company revenue was EU6.81 billion, reflecting an 11% year-on-year increase and surpassing the EU6.46 billion estimate.
- Operating expenses decreased by 4.5% year-on-year to EU3.67 billion, beating the EU3.73 billion estimates.
- The provision for loan losses was EU400 million, indicating a 7% year-on-year rise but lower than the EU509.4 million estimate.
- The CET1 ratio was 11.8%, surpassing the estimate of 11.6% for the period.
- Additionally, the cost-to-income ratio excluding SRF declined slightly to 53.9% from 54.4% the previous year.
- Credit Agricole noted that the earnings outlook for 2024 is one year ahead of 2025 medium-term ambitions, with underlying net income group share predicted to exceed EU6 billion in 2024.
A look at Credit Agricole Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have assigned Credit Agricole S.A. positive scores across various key factors, indicating a generally optimistic long-term outlook for the company. With top scores in both the Value and Dividend categories, Credit Agricole S.A. demonstrates strong financial fundamentals and a commitment to rewarding shareholders through dividends. Moreover, a solid Growth score suggests potential for expansion and development in the future. However, a lower Resilience score may point towards some vulnerabilities that the company needs to address to enhance its stability. Nonetheless, a high Momentum score indicates strong positive market sentiment and performance.
Credit Agricole S.A. serves a crucial role as the lead bank of the Credit Agricole Group, overseeing strategic operations, ensuring financial strength, and managing specialized financial products. The company’s collaborative approach with its subsidiaries, particularly the Caisses Regionales, illustrates a cohesive and effective business model. With a balanced mix of high-value, dividend payout, growth potential, and market momentum, Credit Agricole S.A. is poised to navigate the evolving financial landscape and capitalize on future opportunities.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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