1110 GMT - Credit Agricole's fourth-quarter pretax profit exceeded JPMorgan's estimates, analysts say. The result was driven by contribution from Banco BPM as well as by higher revenue from the French bank's asset gathering and corporate and investment banking businesses, JPM analysts say. Corporate and investment banking, asset management, insurance and private banking revenues were stronger than expected, and JPM says it expects low single-digit EPS upgrades after the result. The upgrade is expected to be driven by the performance of Credit Agricole's asset gathering and its corporate and investment banking business, JPM says in a research note. Shares trade 1.8% higher at 14.82 euros. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 06:10 ET (11:10 GMT)
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