Crédit Agricole’s better-than-expected results confirm the good health of French banks

Crédit Agricole was no exception to the rule. Like most of its French and European counterparts, the bank got through the first half of the year very well, although it was one of the most complicated economically and geopolitically. In the second quarter, the mutualist group recorded a net profit of 2.8 billion euroscomparable to last year and above analysts’ expectations.

Over the half-year as a whole, it generated 4.1 billion in net profits, admittedly down 9.4%, due to a worse first quarter than in 2021. In the spring, practically all the engines of Credit agriculture were running at full speed. “With the exception of asset management with Amundi, all businesses exceeded expectations, and in particular investment banking,” notes Flora Bocahut, analyst at Jefferies.

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The results of Crédit Agricole confirm the good health of the tricolor banking sector. It is still resisting a degraded situation since the war…