Crédit Agricole SA reports a 54.7% increase in underlying net income (group share) to 1.93 billion euros for the first quarter of 2024, as well as a sharp 36.1% rise in underlying gross operating income to 3.15 billion.

Also on an underlying basis (and excluding FSU), its cost/income ratio improved by 0.4 points to 53.7%, as the 9.6% rise in operating expenses to 3.65 billion was outstripped by the 10.5% rise in revenues to 6.8 billion, driven by all business lines.

In line with this first-quarter performance, Crédit Agricole SA's 2024 earnings outlook is one year ahead of the Ambitions 2025 medium-term plan, with underlying RNPG in excess of six billion euros in 2024.

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