French retail banking group Crédit Agricole has reported revenues of €16.3bn for the year ended on 31 December 2012, with a decrease of 15.8% compared with 2011.
Revenues declined by 5.7% over the year before specific items including revaluation of debt issues and portfolio disposals under the adjustment plan.
Operating expenses fell by 2.9% for the full year, which amounted €12bn, mainly due to effort to control costs.
Over the full year, gross operating income was €4.2bn, with a fall of 38.8% compared to the previous year, and down by 15% excluding specific items.
Its Core Tier 1 ratio was lifted to 9.2% at 31 December 2012 from 8.6% in 2011.
Crédit Agricole CEO Jean-Paul Chifflet said, "2012 was a year of transformation and refocusing. We are turning a page and will develop a new medium-term plan this year. It will show that we are moving forward on solid foundations."