French banking Credit Agricole has posted a net income of EUR758m in the third quarter of 2014, representing a year-on-year increase of 4.1%.
For the quarter ended 30 September 2013, the group’s revenues rose by 4% to EUR4.01bn. Operating expenses were EUR2.76bn, stable compared with the year ago quarter.
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The bank said that its private banking business saw net inflows in the third quarter of 2014 driven by strong business momentum.
The private banking business’s assets under management rose by 5.7% since end-December 2013, reaching almost EUR140bn at end-September 2014, including a positive market effect.
In asset management, Amundi’s assets under management were EUR844bn at end-September 2014, up 8.6% since end-December 2013. Net inflows totalled EUR22.3bn over the first nine months of the year, including EUR9.6bn in the third quarter of 2014.
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