Credit Agricole’s private banking unit has reported assets under management (AUM) of $177bn for the first quarter 2013, an increase up 4.5% from $169.6bn reported at the end of year ago quarter.
The bank attributed the rise to net new inflows of $1.18bn and to a positive market and currency impact of $2.49bn.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The bank said that positive inflows returned in all regions except Latin America after the disposal of noncore assets under management in 2012.
As a result, AUM rose by 3.9% in France year-on-year to $79.9 billion at 31 March 2013. Internationally, AUM increased by 5% over the period to $97.3bn.
The revenues at private banking unit were 4.9% higher in the first quarter of 2013 than in the first quarter of 2012.
Net income Group share was $47.3m, up 7.5% on the first quarter of 2012.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCredit Agricole’s asset management arm Amundi, increased its AuM to $979.7 bn rising by 2.6% quarter-on-quarter and by 8.3% year-on-year.
Overall, the Paris-based lender’s net profit rose to $615m in the three months ended March, up from $408m a year earlier.
