August 2, 2019 / 5:10 AM / 22 days ago

Credit Agricole's corporate and investment banking unit weigh on profitability

PARIS, Aug 2 (Reuters) - Credit Agricole, France’s second-largest bank in terms of market capitalization, said on Friday that a weak performance at its corporate and investment unit had weighed on its profits during the second quarter.

Credit Agricole’s overall net profit fell 15% to 1.22 billion euros ($1.34 billion) out of revenues down 0.4% to 5.15 billion euros.

UBS analysts had expected a net profit of 1.23 billion.

Credit Agricole’s corporate and investment banking unit’s net profit fell 22% to 460 million euros.

$1 = 0.9024 euros Reporting by Inti Landauro and Matthieu Protard; Editing by Sudip Kar-Gupta

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