CRARY - Crédit Agricole S.A.

Other OTC - Other OTC Delayed Price. Currency in USD
5.56
+0.01 (+0.17%)
As of 2:45PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close5.55
Open5.60
Bid0.00 x 0
Ask0.00 x 0
Day's Range5.56 - 5.60
52 Week Range5.11 - 7.61
Volume169,338
Avg. Volume175,507
Market Cap32.413B
Beta (3Y Monthly)1.20
PE Ratio (TTM)8.15
EPS (TTM)0.68
Earnings DateN/A
Forward Dividend & Yield0.39 (6.94%)
Ex-Dividend Date2019-05-22
1y Target EstN/A
Trade prices are not sourced from all markets
  • Deutsche Reserves $1.1B to Meet Derivatives Offloading Costs
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    Deutsche Reserves $1.1B to Meet Derivatives Offloading Costs

    Deutsche Bank (DB) makes progress in meeting the radical restructuring targets it had announced in July 2019 to free up capital for other productive business lines.

  • Bloomberg

    French Lenders Nurse Huge Losses on Loans Made to Retail Giant

    (Bloomberg) -- Credit Agricole SA and Natixis SA are among French lenders nursing losses on loans made to Rallye SA and other parent companies of retailing giant Casino Guichard-Perrachon SA, which are creaking under more than 3 billion euros ($3.3 billion) of debt.Natixis made a provision for credit losses of 110 million euros in the second quarter because of its loans to Rallye, which filed for creditor protection in May, according to a person familiar with the matter. Credit Agricole added 69 million euros to cover soured debts at the division that houses corporate and investment banking mostly because of the exposure to the same company, according to a separate person. The people asked not to be named because the matter is private.Representatives for the lenders declined to comment.This is the first tangible impact of Casino group’s troubles on its lenders. For years, banks have been lending to the holding companies of Casino, allowing founder Jean-Charles Naouri to keep control of the business. The retailer’s struggles against new market entrants and a mistimed expansion in South America weighed on its profitability and ability to repay the debt, eventually forcing the holding units to file for creditor protection.Rallye, the largest of these firms, had 1.8 billion euros of bank loans outstanding at the end of June, of which 210 million euros are unsecured.Casino also told investors last month Rallye and other parent companies have an additional 323 million euros of structured financing arrangements secured by share pledges. Societe Generale SA won a court ruling in Paris last month that allows it to call on the pledge even if Rallye is under creditor protection.Societe Generale’s net cost of risk rose to 314 million euros in the second quarter because of a number of troubled corporate loans, including those to Rallye, a separate person familiar said.A spokesman for the bank said that the company’s cost of risk stayed at a low level, with a limited impact stemming from a few specific situations. He declined to comment on individual clients.\--With assistance from Luca Casiraghi.To contact the reporters on this story: Donal Griffin in London at dgriffin10@bloomberg.net;Gaspard Sebag in Paris at gsebag@bloomberg.net;Lucca de Paoli in London at gdepaoli1@bloomberg.netTo contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Sara Marley, James AmottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Credit Agricole Lifts Capital as Investment Banking Slumps
    Bloomberg

    Credit Agricole Lifts Capital as Investment Banking Slumps

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Credit Agricole SA followed competitor Societe Generale SA in strengthening its capital buffers, even though slower investment banking activity weighed on second-quarter earnings.Profit at the large clients business that houses the securities unit fell 20% after the bank saw a continued drop in margins in a sluggish market. A decline in overall net income was in line with expectations and Chief Executive Officer Philippe Brassac said the higher CET1 ratio -- a key measure of financial strength -- “further secures” its 50% cash divided policy.Brassac is betting on corporate banking and asset management to bolster revenue and boost net income after unveiling a new strategic plan in June. The lender -- which met previous key targets ahead of schedule -- is seeking to increase net income to 5 billion euros and boost its return on tangible equity, a key measure of profitability. While that metric declined in the first half, it’s still within the bank’s target range.The CEO has reorganized the bank’s structure and sold less-strategic holdings over the past four years while pledging to secure more partnerships with other companies. With the lender less dependent than crosstown rivals BNP Paribas SA and Societe Generale SA on trading, he’s boosted some targets while rivals have cut theirs. European banks are facing an extended era of low or negative interest rates and ever-rising capital requirements.The lender posted 5.15 billion euros ($5.7 billion) of revenue, slightly ahead of analyst estimates, after giving out more loans to homeowners and businesses.Credit Agricole fell as much as 5.9% in Paris trading as signs of an escalating U.S.-China trade war caused shares to drop across Europe. The stock was down 5.7% at 10.31 euros as of 10:04 a.m. The STOXX 600 Index declined as much as 1.9% while competitors BNP Paribas and Societe Generale also both posted declined of more than 4%.Expenses rose more than 2% in the quarter compared with a year earlier, though they are still within the bank’s target range as a percentage of income. Both the French retail business and the asset management business including Amundi boosted the lender’s bottom line, which at 1.22 billion euros was in line with analyst estimates for the quarter.The bank is one of the few in Europe that has also grown through deal-making. In April, it agreed to take over Banco Santander SA’s main custody and asset-servicing activities to scale up in a business dominated by U.S. firms. Amundi SA, which reinforced its European leadership after the 3.5 billion-euro purchase of Pioneer Investments from UniCredit SpA in 2017, has said recently that it remains a “natural consolidator in Europe.”Corporate ClientsThe bank is seeking to drive more revenue from large corporate clients in cash management and target more small- and medium-sized businesses. It’s also seeking a 20 billion euros increase in yearly net inflows as it targets so-called mass affluent customers.French rival Societe Generale saw its shares soar on Thursday after it boosted its CET1 ratio, though by a much greater magnitude than at Credit Agricole. Still, the increase may signal to investors that Credit Agricole could boost payouts as it seeks to boost net income by 600 million euros over the next three years.Credit Agricole also said it signed partnership agreements in the quarter with Italy’s Banco BPM and Spain’s Abanca as part of its 2022 plan.(Updates with share price in fifth paragraph.)\--With assistance from Gaspard Sebag.To contact the reporter on this story: Dale Crofts in Zurich at dcrofts@bloomberg.netTo contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Dale Crofts, Ross LarsenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Are Investors Undervaluing Credit Agricole (CRARY) Right Now?
    Zacks

    Are Investors Undervaluing Credit Agricole (CRARY) Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Crédit Agricole S.A. (EPA:ACA): Poised For Long Term Success?
    Simply Wall St.

    Crédit Agricole S.A. (EPA:ACA): Poised For Long Term Success?

    After Crédit Agricole S.A.'s (EPA:ACA) earnings announcement in March 2019, the consensus outlook from analysts appear...

  • How Boris Johnson Can Defend the City of London
    Bloomberg

    How Boris Johnson Can Defend the City of London

    (Bloomberg Opinion) -- As the prospect of Britain leaving the European Union without a deal grows ever more likely, the City of London’s status as the center of European finance is in increasing jeopardy. The Square Mile is also missing out on the chance to lead the charge into one of the hottest new products in finance, in part because of the government’s reluctance to participate in the mini-revolution.By the beginning of this month, more than $100 billion of green bonds had been sold globally, up from $70 billion at the same point last year and on pace to top last year’s record $134 billion of issuance. While the sector is still small in comparison with the $2.6 trillion of international bonds issued this year, it has doubled in size in just two years — and with the climate crisis becoming more apparent with every temperature record that gets broken, its future trajectory is clear. Countries including Chile, Poland and the Netherlands have all sold debt designed to finance environmentally friendly projects. France has been at the forefront of developing the market for green bonds issued by governments; as a result, its banks are at the top of the global league tables for underwriting sales of this kind of debt for both nations and companies. Credit Agricole SA, BNP Paribas SA and Societe Generale SA enjoy a combined market share of almost 15%.The U.K.’s sole representative in the top 10 rankings is HSBC Holdings Plc — which has seriously considered shifting its head office to Asia, where it makes most of its revenue. That’s a sorry state of affairs given London’s record of being at the vanguard of developing new financial products. And that poor showing is because the U.K. is notably absent from the list of governments that have issued the bonds.The Debt Management Office, which is responsible for U.K. gilt sales, referred me to the government’s Green Finance Strategy report published earlier this month. While that report acknowledges the importance of the continued “mainstreaming of green finance products,” it dismisses the idea of a sovereign issue:The Government does not consider a sovereign green bond to be value for money compared to the core gilt program, which remains the most stable and cost-effective way of raising finance to fund day-to-day government activities.The Government remains open to the introduction of new debt financing instruments but would need to be satisfied that any new instrument would meet value for money criteria, enjoy strong and sustained demand in the long-term and be consistent with the wider fiscal objectives of government.That reluctance strikes me as shortsighted. Admittedly, the Dutch government’s 6 billion euros ($6.7 billion) of 20-year green bonds sold in May yield more than a slightly longer-dated 22-year vanilla issue. But the average gap of fewer than 5 basis points in the past two months is negligible.Moreover, given that the U.K. report also talks about the need for Britain “to consolidate its reputation as the home of the green finance professional and to capture the commercial opportunities” from the growth of the global market for environmentally friendly securities, a tiny increase in interest payments seems — literally — a small price to pay.  Back in the day, it was the U.K. and the Bank of England that took the lead in transformative financial innovations. Bankers in London invented the Eurobond market, which became one of the primary sources of finance for companies and governments worldwide. The now discredited London interbank offered rates were the most important benchmarks of borrowing costs.When it became clear that Europe was serious about introducing a common currency, it was the U.K. central bank that did much of the groundwork. Back in 1991, Britain issued the biggest benchmark bond denominated in European currency units, the euro’s forerunner, as a way of cementing London’s role in the development of the new currency — a victory that still rankles with Paris.And half a decade ago, the U.K. was determined to become the first nation other than China to sell a bond denominated in renminbi as financial centers vied to become the offshore trading hub for Beijing’s currency. Those yuan bonds were repaid almost two years ago.Prior to entering Parliament, the newly installed chancellor of the exchequer, Sajid Javid, was a managing director at Deutsche Bank AG. So he, of all politicians, should appreciate that the City needs to grasp any and every opportunity to position itself for a post-Brexit world. Prime Minister Boris Johnson should allow him to instruct the DMO to embrace green bonds as a relatively cheap way to put London in the mix — and the sooner, the better.To contact the author of this story: Mark Gilbert at magilbert@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • What To Know Before Buying Crédit Agricole S.A. (EPA:ACA) For Its Dividend
    Simply Wall St.

    What To Know Before Buying Crédit Agricole S.A. (EPA:ACA) For Its Dividend

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  • Fighting Climate Change Is Just Good Business
    Bloomberg

    Fighting Climate Change Is Just Good Business

    (Bloomberg Opinion) -- Last week, the New York State Assembly passed the most aggressive clean-energy target in the United States, requiring New York to get 100 percent of its electricity from zero-emissions sources by 2040. Governor Andrew Cuomo, who is expected to sign the bill into law, called it “the most aggressive in the country.” On the other side of the country, Oregon’s state Legislature is attempting to pass another ambitious climate bill, an effort now stalled by the fact that Republican senators have walked off the job. In the absence of federal action on decarbonizing the power sector, states are taking action on their own.These state goals are ambitious, and they’re potentially unachievable using current technologies. But they are becoming policy reality, not political rhetoric. Businesses and investors thinking of what assets to build and finance, and where, are signaling that they are aligning themselves with these ambitious climate goals. The Network for Greening the Financial System, a group of central banks and supervisors that assesses climate risk and mobilizes climate finance, doesn’t see climate change as abstract. Rather, it is of a “foreseeable nature,” and “while the exact outcomes, time horizon and future pathway are uncertain, there is a high degree of certainty that some combination of physical and transition risks” will eventually materialize.  If those risks are foreseeable, then they can be priced. And if those risks manifest themselves financially, then they should be disclosed as well. In its most recent status report, the Task Force on Climate-Related Financial Disclosures said that it now has almost 800 supporters, up from just over 100 only two years ago. The group’s disclosure framework has been appearing as corporate commitments to reduce exposure to climate change or curtail business activities that cause it. Crédit Agricole recently published its 2022 Medium-Term Plan, which not only aligns itself with the TCFD, but also goes directly after its own book of business in thermal coal used for power generation. The bank says it will be exiting from thermal coal production in EU and OECD countries by 2030 (no new business relations with companies for which thermal coal accounts for over 25% of their revenues except those that have announced plans to close their thermal coal activities or which intend to announce such plans by 2021). In a separate news release, the bank said it would also double its green loan portfolio to 13 billion euros by 2022. Its planned increase tracks an expanding market that could top 2018’s record $182 billion of green bond issuance.Credit Agricole and its peers are typical green bond issuers, and as Brian Chappatta of Bloomberg Opinion noted, the green bond field is not only growing, but it is also becoming more diverse. That’s a welcome change from last year, when Chappatta said the market “appeared to be stuck in infancy because of self-designating and a general lack of enforcement”: It’s not entirely clear what changed. Maybe countries and companies truly are reacting to the U.N.’s October report, which argued that the world has 12 years to avert catastrophic climate damage, and just needed time to get their financing in order. Regardless, the diversity of borrowers coming to market stands out as an important trend. About 39% of issuance in the first five months of 2019 came from countries other than China, France, the U.S., Germany, the Netherlands and Sweden, the most since at least 2014, Bloomberg data show. It is important to note two things about how the corporate world is adapting to a changing climate beyond the here and now. First, working to combat it has financial rewards, encouraging more of these efforts; second, almost every big business is building climate change into its forecasts. We can see this in the CDP’s recent Global Climate Change Analysis 2018. As Bloomberg’s Eric Roston reported, the world’s 500 largest companies tallied $970 billion in risks from climate change, as well as $2.1 trillion of “potential good news” in doing something about those risks. Acknowledgement of climate change at the highest corporate levels is already nearly unanimous: That acknowledgement has also become a matter of business strategy: Businesses and investors like certainty. Long-term and extremely ambitious policies such as New York’s ensure a bit more certainty, even if the exact mechanisms of achieving those policies remains uncertain. Climate change is all that most people have ever known, as I wrote last week, and it’s the same story for global corporations. Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at nbullard@bloomberg.netTo contact the editor responsible for this story: Brooke Sample at bsample1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Bloomberg

    Not Sexy, But Steady: A French Bank's Playbook

    Peers should take note: Credit Agricole SA is an example of how diversification helps. The French lender outlined its three-year plan on Thursday. Credit Agricole revamped itself after the financial crisis, through a series of acquisitions and disposals, to reduce its reliance on trading and bolster capital.

  • What Does Crédit Agricole S.A.'s (EPA:ACA) Share Price Indicate?
    Simply Wall St.

    What Does Crédit Agricole S.A.'s (EPA:ACA) Share Price Indicate?

    Today we're going to take a look at the well-established Crédit Agricole S.A. (EPA:ACA). The company's stock received...

  • Reuters

    European shares rise on hopes of ECB action

    European shares rose on Thursday, as expectations the European Central Bank will provide more stimulus for an ailing euro zone economy countered disappointment over the collapse of Renault-Nissan's merger with Fiat-Chrysler. The pan-European STOXX 600 index was up 0.3% by 0717 GMT, with the auto sector, down 0.48%, preventing stronger gains. The ECB, which announces its interest rate decision at 1130 GMT, is expected to seek to give the economy a boost and may even set the stage for more action later this year as the trade tensions unravel the benefits of years of ECB stimulus.

  • Credit Agricole reports first-quarter net profit fall, shares slip
    Reuters

    Credit Agricole reports first-quarter net profit fall, shares slip

    Credit Agricole reported a bigger-than-expected fall in first-quarter net profit after an increase of costs eclipsed higher profits at its French retail bank and corporate and investment banking arm. The bank said on Wednesday costs during the first quarter rose, most notably because of a higher contribution to the EU's Single Resolution Fund (SRF) and accounting changes. Net profit fell 11% profit to 763 million euros (662.26 million pounds), missing the 789 million euros forecast in a poll of analysts by Infront Data.

  • CNBC

    European stocks mixed as trade fears linger; Credit Agricole down 2.7%

    European stocks traded mixed Wednesday as markets tried to rebound from a sell-off Monday resulting from China's announcement of retaliatory tariffs on U.S. imports.

  • Does Crédit Agricole S.A.'s (EPA:ACA) CEO Salary Compare Well With Others?
    Simply Wall St.

    Does Crédit Agricole S.A.'s (EPA:ACA) CEO Salary Compare Well With Others?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! In 2015 Philippe Brassac was appointed CEO of Crédit Agricole S.A. (EPA:ACA). First, this...

  • Reuters

    European banks Credit Agricole and Santander team up in asset services

    France's Credit Agricole and Spain's Santander plan to combine their custody and asset servicing operations, in a deal that could point the way for European banks to achieve scale without the complexity of a full merger. The new business will have around $3.8 trillion (£2.9 trillion) of assets under custody, closing the gap on European leaders and providing scope for savings and cost reductions. Credit Agricole will own 69.5 percent of the merged unit, which will keep the brand name of Agricole's existing asset management arm - Caceis.