CIB helps Crédit Agricole to Q2 profit

25 Aug 2010

A strong performance in Crédit Agricole’s financing businesses offset a decline in capital markets in the second quarter and helped the bank’s corporate and investment bank record a healthy profit, it said on Thursday.

Crédit Agricole’s capital markets and investment banking revenues fell to Eu1.729bn in the first half of 2010 versus Eu2.189bn for the same period last year. The bank blamed the highly volatile environment and climate uncertainty over European sovereigns for the decline.

Fixed income was the hardest hit “owing ...

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