French strength helps profits at Credit Agricole

Tim Wallace
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FRENCH bank Credit Agricole saw profits jump in the fourth quarter of 2014, yesterday reporting healthy investment banking incomes and domestic retail revenues.

Profits climbed 13 per cent on the year to €697m (£512.7m).

International retail banking revenues climbed 4.2 per cent, while its domestic LCL brand saw revenues rise 1.2 per cent. Corporate and investment banking revenues rose three per cent.

Analysts welcomed the results, and praised the bank as a better investment prospect than other major players Societe Generale and BNP Paribas: “The earnings profile is better, capital generation is better and even disclosure is now better,” said Omar Fall from Jefferies.