French financial giant Crédit Agricole reported second-quarter results that beat market expectations on both profit and revenue, driven by retail, asset management, and investment banking. Net profit attributable to shareholders excluding exceptional items rose 1.4 percent to 2.05 billion euros, while revenue increased 7.7 percent to 7.36 billion euros, both exceeding analyst forecasts. The investment banking division saw revenue grow 4.4 percent on strong structured equity and equity business, while the fixed income, currencies, and commodities trading unit was nearly flat. CEO Olivier Gavalda denied as untrue media reports of merger talks between Italy's Banco BPM, in which Crédit Agricole holds a roughly 30 percent stake, and Monte dei Paschi.
Credit Agricole SAQ2 profit and revenue beat forecasts, driven by retail, asset management, and investment banking.