Following the announcement of the annual results ' There are no significant changes to UBSe's forecasts', says the analyst firm.
UBS remains neutral on the stock but lowers its price target to E13 (from E13.7), which represents a potential upside of 7%.
' Our forecasts remain broadly unchanged after an unusually weak quarter for almost all CASA businesses. Our estimates remain below consensus and neutral', says UBS.
Crédit Agricole reported underlying EPS up 6.5% to 1.80 euros for the past year, and underlying ROTE stable at 12.6%.
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Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- retail banking (30.1%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- finance, investment and market banking (30.1%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- asset management, insurance and private banking (25.9%);
- specialized financial services (13.9%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2023, Crédit Agricole S.A. managed EUR 835 billion in current deposits and EUR 516.3 billion in current credits.
NBP is distributed geographically as follows: France (46%), Italy (20%), European Union (14.3%), Europe (7.2%), North America (6%), Japan (1.3%), Asia and Oceania (3 .5%), Africa and Middle East (1.3%), Central America and South America (0.4%).