Credit Agricole Shares Fall After Results Miss Forecasts

By Adria Calatayud

Credit Agricole shares fell after the French bank's first-quarter results missed analysts' forecasts, with revenue coming in weaker than expected and the Middle East war driving up provisions for bad loans.

Shares in Credit Agricole were down 6% in European morning trading, erasing the stock's gains over the past year.

The bank reported a quarterly net profit of 1.68 billion euros ($1.96 billion), up 1.8% compared with the year-earlier period. Analysts polled by Visible Alpha had forecast 1.72 billion euros.

Revenue was up 0.9% at 6.99 billion euros, against expectations of 7.11 billion euros based on the same consensus.

The bank said it adopted a prudent approach to provisioning in the context of the conflict in the Middle East that led it to take a cost-of-risk hit of 547 million euros, or 32% bigger than in the same period last year.

Credit Agricole's results look underwhelming and might trigger cuts to consensus estimates, analysts at Keefe, Bruyette & Woods wrote in a note to clients. With guidance unchanged and its capital position weaker than expected, shares could fall under pressure in the near term, the analysts added.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

04-30-26 0521ET