Dow Jones Newswires: Credit Agricole net profit rose above expectations

Credit Agricole SA’s third-quarter net profit rose 8.9% on growing revenue, surpassing analysts’ expectations.

Net profit for the period was 1.20 billion euros ($1.33 billion) compared with EUR1.10 billion a year earlier, France’s second largest listed bank by assets ACA, +3.37%  said Friday.

Revenue grew 4.8% to EUR5.03 billion.

Analysts had expected a net profit of EUR1.14 billion on revenue of EUR5.02 billion, according to a consensus forecast provided by FactSet.

Credit Agricole’s core Tier 1 ratio, a key measure of capital strength, edged up to 11.7% in September from 11.6% in June.

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