Fixed income lifts Crédit Agricole IB results
Crédit Agricole beat market forecasts as it reported a 14.2% increase in pre-tax profits, on the back of the sale of its Athens-based Emporiki unit and a strong performance of its capital markets and investment banking activities.
A slide presentation — which had been accidentally posted a day early on the bank’s website — showed investment banking revenues had risen by 3.6% to just over €1bn year-on-year, driven primarily by growth in fixed income.
Fixed income revenues rose to €391m in the second quarter, from
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