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French bank Credit Agricole gets capital boost as profit climbs

August 3, 2017


Credit Agricole reported a sharp rise in its core capital ratio to 12.4 percent, as the bank took advantage of higher profits and a sale of a stake in investment company Eurazeo to beef up its financial position.

An improving economic activity in its core European markets, coupled with a slight increase in interest rates and cost cuts, helped drive its second-quarter net income up 17 percent to 1.35 billion euros ($1.60 billion).

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