CASA has released its Q2 16 earnings. Adjusted revenues (for the sales of VISA Europe) were 3% above expectations whereas total expenses were in line with expectations. Loan losses (once adjusted for litigation costs) were in line with consensus forecasts with operating income being therefore 7% above consensus. Based on H1 16, our revenue expectations for FY2016 look a bit optimistic especially as we had expected a potential catch-up in LCL. Weakness in net interest income should stay for mu
03 Aug 2016
Good set of results...French retail banking still the key
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Good set of results...French retail banking still the key
Credit Agricole SA (ACA:WBO) | 0 0 0.0% | Mkt Cap: 38,693m
- Published:
03 Aug 2016 -
Author:
Farhad Moshiri -
Pages:
3
CASA has released its Q2 16 earnings. Adjusted revenues (for the sales of VISA Europe) were 3% above expectations whereas total expenses were in line with expectations. Loan losses (once adjusted for litigation costs) were in line with consensus forecasts with operating income being therefore 7% above consensus. Based on H1 16, our revenue expectations for FY2016 look a bit optimistic especially as we had expected a potential catch-up in LCL. Weakness in net interest income should stay for mu