France's Credit Agricole posts profit rebound as provisions drop

PARIS - French lender Credit Agricole reported on Thursday a two-fold rise in second-quarter profit on lower pandemic-related charges against bad loans as banks benefited from an improving economic environment helped by state support for businesses.

France's second-largest listed bank, after BNP Paribas, said net income rose to 1.97 billion euros ($2.33 billion) in the quarter from 954 million euros a year ago, with cost of risk down 66.8%.

($1 = 0.8450 euros)