Crédit Agricole has recorded a 2.5% year on year increase in
assets under management (AuM) at its asset management, insurance
and private banking business unit in the first quarter to €11.1bn
($15.8bn).
Net income at the unit rose by over a quarter
(26%) from a year ago to €489m.
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Crédit Agricole generated a net income of €38m
from private banking alone, 23.3% higher compared with the
corresponding period a year ago.
Revenues from private banking were also
strong, rising by 16% year on year to €175m.
The French bank recorded net new inflows from
private banking operations of €1.2bn in the first quarter.
In March, the bank
outlined four main strategic ambitions under its Commitment 2014
plan to become the market leader in Europe.
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