Credit Agricole caught in fixed-income slump

Downtrend: The sign of French bank Credit Agricole in Lille, northern France. The bank’s trading revenue slumped in the first three months of the year. — AFP

PARIS: Credit Agricole SA’s trading revenue slumped in the first three months of the year, squeezing earnings at its investment bank.

Credit Agricole took a cautious stance. At the end of March, its corporate and investment bank reduced its risk-weighted assets by more than 10% from a year earlier, “due to a highly selective approach and a reduction in capital consumption,” the company said in a statement.