Crédit Agricole Shares Drop 6.59% Despite Net Income Rise in Q1
The 'green bank' takes a hit during the session, as the French banking sector faces pressure. BNP Paribas also falls by 4.91%. The stock moves below its moving averages amidst high volume triggered by the morning's quarterly release.
A Cost of Risk That Overshadows a Rising Quarter
This morning, the group reported a Group share net income of 2.1 billion euros for the first quarter of 2026, up by 5.5% year-over-year. The intermediation margin and activities in insurance and asset management supported the business momentum. However, the cost of credit risk increased by 30.6%, due to a revision of prudential scenarios linked to the conflict in the Middle East.
Meanwhile, Crédit Agricole confirmed the repayment on June 23 of its Additional Tier 1 bonds issued in British pounds in June 2021, following a partial buyback in September 2025. The banking sector is operating in a deteriorated environment: BNP Paribas is down 4.91%, while the CAC 40 is down 1.1%.
A Price That Falls Below Its Moving Averages
At €16.09, the stock has fallen 6.59% from the previous day's close of €17.225. It has significantly dropped below its MM50 at €17.20 and its MM200 at €16.83, two benchmarks it had recently crossed upwards. The RSI at 51 remains neutral despite the magnitude of today's decline, indicating that the drop starts from a zone of balance rather than a prior bullish excess. The price is now at the lower end of the Bollinger Bands, near the lower boundary at €15.66, and is approaching the support threshold identified at €15.85.
Over three months, the stock has lost 11.01%. The financial calendar for the stock now points to the annual general meeting on May 20, followed by the detachment of the coupon on May 26.
