{"id":134487,"date":"2021-08-05T06:15:06","date_gmt":"2021-08-05T06:15:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=134487"},"modified":"2021-08-05T06:15:06","modified_gmt":"2021-08-05T06:15:06","slug":"credit-agricoles-second-quarter-profit-doubles-as-state-cushions-covid-19-pains","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/credit-agricoles-second-quarter-profit-doubles-as-state-cushions-covid-19-pains\/","title":{"rendered":"Credit Agricole&#x27;s second-quarter profit doubles as state cushions Covid-19 pains"},"content":{"rendered":"<ul>\n<li>Credit Agricole, France&#x27;s second-largest listed bank, said its net income rose to 1.97 billion euros ($2.33 billion) in the quarter from 954 million euros a year ago.<\/li>\n<li>Like rivals, including Spain&#x27;s BBVA and BNP Paribas which slashed provisions, the lender said its cost of risk \u2014 that reflects provisions against loan loss \u2014 was down 66.8%, while revenue rose by 18.8%.<\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>BNP-FR<\/span><\/li>\n<li><span>ACA-FR<\/span><\/li>\n<\/ul>\n<p>French lender Credit Agricole reported a two-fold rise in its second-quarter profit on Thursday, on lower Covid-19 pandemic-related charges against bad loans as banks benefited from a government support-led improving economic environment.<\/p>\n<p>Although the health crisis looms over the economy, unprecedented government support across Europe, from worker furlough schemes to assistance for businesses, have helped borrowers keep up repayments, allowing banks to shield profits and lower provisions.<\/p>\n<p>Credit Agricole, France&#x27;s second-largest listed bank, said its net income rose to 1.97 billion euros ($2.33 billion) in the quarter from 954 million euros a year ago.<\/p>\n<p>Like rivals, including Spain&#x27;s BBVA and BNP Paribas which slashed provisions, the lender said its cost of risk \u2014 that reflects provisions against loan loss \u2014 was down 66.8%, while revenue rose by 18.8%.<\/p>\n<p>When asked about the outlook on provisions, Credit Agricole SA CEO Philippe Brassac told reporters he was confident for the second half of the year but declined to provide a guidance.<\/p>\n<p>&quot;The state takes action. It does it efficiently. This gives a safer risk paradigm for banks,&quot; Brassac said.\u00a0<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/08\/05\/credit-agricoles-q2-profit-doubles-as-state-cushions-covid-19-pains.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit Agricole, France&#x27;s second-largest listed bank, said<\/p>\n","protected":false},"author":3,"featured_media":134486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Credit Agricole&#x27;s second-quarter profit doubles as state cushions Covid-19 pains - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/credit-agricoles-second-quarter-profit-doubles-as-state-cushions-covid-19-pains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Agricole&#x27;s second-quarter profit doubles as state cushions Covid-19 pains - 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