Crédit Agricole cap markets fall tarnishes 2009 results

26 Feb 2010

Crédit Agricole on Wednesday reported net income of Eu1.125bn for 2009, with its fourth quarter results dropping below market expectations as the French bank’s capital markets and investment banking revenues fell.

Capital markets and investment banking activity fell 4.5% year-on-year, with net banking income (revenues) at the end of 2009 reported at Eu3.5bn.

While the bank lost Eu504m through the re-evaluation of its own structured debt, the fixed income business did better. It contributed revenues of Eu2.462bn over the ...

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