Bloomberg News reports that net income rose to $878m from $821.4m a year earlier, said the bank. Earnings surpassed the $816m average estimate of five analysts surveyed by Bloomberg.
The quarter marked a rebound in trading as volatility increased and stock markets soared, while French consumer banking continued to weigh on profit. Earnings jumped 11% at Credit Agricole’s money management and insurance unit, and by more than 20% at the corporate and investment bank.
In the meantime Bloomberg also reports that Societe Generale posted a fivefold increase in first-quarter profit, helped by equities trading.
Net income rose to $972m from $181.7m a year earlier, the bank said in a statement on Wednesday. Earnings beat the $827.9m average estimate of five analysts surveyed by Bloomberg.