In the third quarter, Crédit Agricole has benefited from good performance in its trading sector, mainly in bond trading. The Financial Group also put less money aside for possible bad loans because of the coronacrisis. In the measurement period, an underlying profit of EUR 1.1 billion was put into the books. That is more than 9 percent less than a year earlier, but much better than the average connoisseurs would have seen. The income came to EUR 5.1 billion. Like many branches, the bank put less money in its poaching pot, after massive facilities at the early stages of the pandemic. At present, Crédit Agricole looks like takeover pad. The bank is reportedly looking at strategic options with its Italian branch manager Banco BPM, including a merger of activities in that country. This would be an adaptation of the regular strategy, with Crédit Agricole growing through co-operation. CEO Philippe Brassac refused to respond.
