The quarterly profits of Credit Agricole declined by 16.4%, as the bank increased the value of provisions nearly three times to protect itself from loan defaults as a result of the Corona crisis. < / p> According to ArabiaNet, Credit Agricole avoided trading losses in shares that had been won by French rivals BNP Paribas and Societe Generale, who have significant market shares in the activity. . Its market activities focused on trading fixed income instruments increased by 14%. Net profit fell to 638 million euros ($ 691.4 million) from 763 million a year ago. Revenue rose 7.1% to 5.2 billion euros. Our results are good, and this quarter allowed us to absorb doubling the cost of risk by three times the number, "he said in a press release. His estimates. The cost of risk with the bank, which reflects provisions for potential loan losses, rose to 621 million euros from 225 million euros a year ago.
