Credit Agricole Says Its Profits for Q3 2021 Beat Expectations
- But, its revenue in capital markets was down compared to its main competitors like Societe Generale.

Revenue across capital markets was down 18.7%, said Credit Agricole, compared with the 8.4% surge witnessed at Societe Generale and 1.2% in BNP Paribas. Still, Philippe Brassac, the Chief Executive Officer of the French international banking group, clarified that they have no plans to change its strategy in the sphere as the pandemic crisis was not over yet. “It is a matter of long-term policy on our side,” he said.
Other metrics unveiled that Credit Agricole had a rise in its net income of 43.5% during the third quarter to EUR 1.40 billion, which beat the forecast set at EUR 1.23 billion according to a survey conducted by Refinitiv. “There is no reason today to change our target,” Brassac commented.
Moreover, in the retail banking unit, revenue in Credit Agricole increased 5.1% in France and skyrocketed 32.5% in Italy, where the lender acquired Creval, a domestic lender. Lastly, corporate and investment banking revenue dropped by 3.7% for the French international banking group, as fixed-income, commodities and currency trading plummeted by 23.7%.
Societe Generale's Partnership with Kyriba
In June, one of its major competitors, Societe Generale, announced that it had formed a partnership with Kyriba, a Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. Read this Term-based finance and IT solutions provider, to launch a new treasury management solution, including payment automation and fraud management functionalities.
The new solution aims to facilitate Societe Generale’s corporate clients and their subsidiaries. In addition, the French banking giant is planning to make treasury management smooth and easier through the cloud-based solution. The bank highlighted different functionalities in the upcoming solution, including payment automation, fraud management and real-time monitoring of treasury positions.
Revenue across capital markets was down 18.7%, said Credit Agricole, compared with the 8.4% surge witnessed at Societe Generale and 1.2% in BNP Paribas. Still, Philippe Brassac, the Chief Executive Officer of the French international banking group, clarified that they have no plans to change its strategy in the sphere as the pandemic crisis was not over yet. “It is a matter of long-term policy on our side,” he said.
Other metrics unveiled that Credit Agricole had a rise in its net income of 43.5% during the third quarter to EUR 1.40 billion, which beat the forecast set at EUR 1.23 billion according to a survey conducted by Refinitiv. “There is no reason today to change our target,” Brassac commented.
Moreover, in the retail banking unit, revenue in Credit Agricole increased 5.1% in France and skyrocketed 32.5% in Italy, where the lender acquired Creval, a domestic lender. Lastly, corporate and investment banking revenue dropped by 3.7% for the French international banking group, as fixed-income, commodities and currency trading plummeted by 23.7%.
Societe Generale's Partnership with Kyriba
In June, one of its major competitors, Societe Generale, announced that it had formed a partnership with Kyriba, a Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. Read this Term-based finance and IT solutions provider, to launch a new treasury management solution, including payment automation and fraud management functionalities.
The new solution aims to facilitate Societe Generale’s corporate clients and their subsidiaries. In addition, the French banking giant is planning to make treasury management smooth and easier through the cloud-based solution. The bank highlighted different functionalities in the upcoming solution, including payment automation, fraud management and real-time monitoring of treasury positions.