credit agricole profit drops in fourth quarter
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Credit Agricole profit drops in fourth quarter

Arab Today, arab today

Arab Today, arab today Credit Agricole profit drops in fourth quarter

Credit Agricole
Paris - Arab Today

Credit Agricole posted a slump in fourth-quarter profit after it booked a goodwill writedown at its French consumer-banking unit and trading revenue fell.

Net income dropped to 291 million euros ($308 million) from 882 million euros a year earlier, the Montrouge, France-based lender said on Wednesday. That compares with the 315 million-euro average estimate of six analysts surveyed by Bloomberg. Credit Agricole will pay a cash dividend of 60 cents a share for 2016. 

The lender, which refocused on its main markets after losses during both the Greek and subprime-mortgage crises, last year reorganized its corporate structure to free up capital. Chief Executive Officer Philippe Brassac, almost two years into the job, is expanding in asset management as record-low interest rates take a toll on its French retail unit.

Credit Agricole booked a 491 million-euro goodwill writedown at LCL, its French branch network, after "massive” mortgage refinancing by clients, it said last month. While the charge had no impact on the bank’s solvency or dividend policy, it illustrated the pain the rates squeeze is inflicting on consumer banks. The bank also booked a 161 million-euro charge related to a review of deferred tax assets in the quarter.

Source :Times Of Oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

credit agricole profit drops in fourth quarter credit agricole profit drops in fourth quarter

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

credit agricole profit drops in fourth quarter credit agricole profit drops in fourth quarter

 



GMT 10:59 2018 Friday ,07 December

Houthi militia shell commercial center in Hodeidah

GMT 21:12 2017 Sunday ,10 December

UAE, Sri Lanka advancing bilateral relations

GMT 19:21 2017 Wednesday ,08 November

Iqbal Day marked in Paris

GMT 18:14 2017 Wednesday ,31 May

A handbag? For $380k, it's yours

GMT 21:17 2017 Saturday ,21 October

EU summit to throw Britain a Brexit bone

GMT 15:45 2017 Friday ,04 August

Yemeni army liberated more areas in Shabwa

GMT 20:23 2017 Thursday ,14 September

Paul Auster tops shortlist for Man Booker prize

GMT 09:55 2017 Tuesday ,14 November

Horford leads way as Celtics win 12th straight

GMT 20:04 2018 Sunday ,02 September

Drive to teach food safety to housewives

GMT 08:54 2014 Monday ,17 November

German artist hits back at Bayreuth Festival

GMT 13:15 2018 Wednesday ,17 January

Bassil welcomes Ambassadors of Iraq, Hungary

GMT 01:05 2017 Thursday ,23 March

Strawberry prices fall to Dh10 a kilogram

GMT 08:33 2017 Tuesday ,14 February

Asian markets dip, dollar hit by Flynn resignation

GMT 15:53 2017 Wednesday ,23 August

Six dead as typhoon smashes into Macau and Hong Kong

GMT 19:43 2017 Sunday ,05 March

FNC Speaker, Irish official discuss cooperation

GMT 13:01 2017 Friday ,10 March

Hohns named as Australia chief cricket selector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday