PARIS, May 15 (Reuters) - Credit Agricole’s quarterly profit fell short of expectations on Tuesday as lower revenue from French retail and capital markets trading ate into gains from asset management at the banking group.
First-quarter net income rose 1.2 percent to 856 million euros ($1.03 billion), slightly lower than analysts’ estimates of 878 million euros, according to a Reuters poll of 6 analysts.
Revenues rose 4.4 percent to 4.91 billion euros, compared to 4.98 billion expected by analysts.
Credit Agricole said the “disposal of non-strategic entities, exchange rate variations and regulatory contributions weighed on the results”.
$1 = 0.8351 euros Reporting by Maya Nikolaeva; Editing by Sudip Kar-Gupta