Credit Agricolereport disappoints

Credit Agricole SA, France's second-largest bank, reported a decline in first-quarter profit that exceeded analysts' estimates as provisions for risky loans climbed and its Greek unit posted losses.

Credit Agricole fell as much as 5.1 percent in Paris trading after saying net income fell to 202 million euros ($274 million) from 892 million euros a year earlier. Analysts forecast earnings of 350 million euros.

"This is not rosy," said Mamoun Tazi, a London analyst at MF Global Securities Ltd who has a "neutral" rating on the stock. "This is Credit Agricole going through the credit-crisis cycle and still suffering from the financial crisis."