Credit Agricole Group: Excellent credit rating with positive outlook

Credit Agricole Group: Excellent credit rating with positive outlook <

Crédit Agricole Group continues to mark excellent financial results inspite the tubulent financial market in Europe. The strength od CA Group, which delivered net income Group share of 1.228 million euros in the first quarter of 2015, has been recognised by the independent institutions for credit risk assessment and in addition to excellent credit rating, changed the long-term outlook from stable to positive.

Ratings agency Fitch has revised Crédit Agricole’s long-term ‘A’ rating outlook from stable to positive. The rating "A" is interpreted as a high ability to perform financial obligations and low credit risk, while a positive outlook indicates the possibility that the rating could be increased in the future. Fitch recognised the Group’s leading position in France – where its market share of retail banking is around 25% – and its sizeable deposits. Fitch praised the Group’s strategy, which refocuses on the core businesses and limits expansion abroad.

In the first quarter of 2015 Crédit Agricole Group, who is the leading financial partner to the French economy and one of the largest banking groups in Europe, delivered net income Group share of1.228 million euros. The cost of risk continued to decline, with a decrease of 19.2% compared with the first quarter of 2014, while revenues rose by 3.1% compared to the first quarter of 2014.

"Crédit Agricole Srbija is a part of a leading banking group in Europe thanks to which, we can offer to the local market modern products and services, and can also guarantee full stability od business operations and safety of investments“, said Bruno Charrier, President of the Executive board of Crédit Agricole Srbija.

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