In the first quarter of 2011, revenues were EUR5.3b, a rise of 9.2%, compared to EUR4.82bn in the corresponding quarter of the 2010.
The French bank said the cost of risk was 23.5% lower than in the first quarter of 2010, reflecting improvement in the business climate, with declines of 17.3% at LCL, 9.3% in international retail banking and 55% in corporate and investment banking.
The private banking’s assets under management moved up to EUR94.8bn in the first quarter of the 2011, compared to EUR84.8b in the same period last year.
Credit Agricole SA chairman Jean-Marie Sander said that these results reflect excellent business momentum across all Crdit Agricole SA Group business lines. He also stressed the continued improvement in overall operating efficiency and the substantial reduction in the cost of risk.
