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Credit Agricole’s nine-month net income surges 29%

Credit Agricole, a banking group that offers a range of banking and insurance services, has reported that net income, group share, was E4.9 billion for the first nine months of 2007, a 29% rise compared to the same period in 2006.

Net banking income was E14.36 billion, a 19.9% rise on the first nine months of 2006. Gross operating income was E4.98 billion, up 11.4% compared to the same period in 2006.

Net income, group share, stood at E954 million for the third quarter of 2007, a decrease of 16.8% over the third quarter of 2006. Net banking income was E4.08 billion, a 6.9% increase compared to the corresponding period of 2006. During the third quarter, gross operating income stood at E1.19 billion, down 7.9% compared to the corresponding of 2006.