Crédit Agricole is resisting the shock of the Covid-19 pandemic rather well for the time being. In the first quarter, its revenues increased by 7% (5.2 billion euros), announced Wednesday the mutual bank. This good performance is notably attributable to its “large clientele” banking pole , which includes corporate and investment banking (BFI).
Unlike Société Générale and BNP Paribas, which suffered losses with their equity derivatives activities, the Crédit Agricole BFI weathered the unprecedented market storm of March without too much trouble. “Our BFI is essentially focused on the financing needs of large“ corporate ”customers (companies, editor's note) , explains Jérôme Grivet, CFO of Crédit Agricole SA. This activity does not expose us, or less than the others, to the market dislocations that we have experienced. ”
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The fall in the stock markets, on the other hand, strongly affected the activity of “savings and insurance management” (fall
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