August 3, 2018 / 5:06 AM / 4 months ago

French bank Credit Agricole posts higher Q2 net profit above forecasts

PARIS, Aug 3 (Reuters) - French bank Credit Agricole SA said its net profits had risen faster than forecast by the market, thanks to the good performance of its Italian unit, its investment bank and its asset management businesses.

Net profit rose 6.4 percent to 1.44 billion euros ($1.7 billion) in the second quarter. Analysts polled by Inquiry Finance on behalf of Reuters expected an average profit of 1.04 billion euros.

The bank’s overall revenue rose 9.8 percent to 5.17 billion euros. Analysts expected revenues of 4.92 billion euros.

$1 = 0.8632 euros Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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