Crédit Agricole de-risking saps earnings
Corporate and investment banking RWAs fall 11%; net income falls €103 million
Crédit Agricole’s pivot away from corporate and investment banking accelerated in the year to March 31, with the dealer shedding €14.2 billion in risk-weighted assets related to these business lines and cutting its trading value-at-risk by €3.5 million.
In its first quarter earnings, the French dealer said its corporate and investment bank (CIB) had adopted a “highly selective” risk-taking policy and a “pick and choose” approach to capital allocation as part of its strategy to reduce earnings
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