The private banking business of France’s Credit Agricole had assets under management (AuM) of EUR141bn at the end of fourth quarter of 2014, an increase of 7% compared with the year ago period.
The bank said that the rise in AuM includes a positive market effect as well as EUR101.6bn of assets related to CA Private Banking and EUR39.9bn of assets related to LCL.
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The private banking business also registered net inflows in the fourth quarter of 2014 driven by strong business momentum, the bank said in its earnings release.
The business’s AUM rose by 3.3% in France over the full year to EUR63.9bn while abroad assets also increased by 10.2% over the same period to EUR77.6bn.
The CA Private Banking unit reported 3.7% rise in revenues to EUR177m for the quarter, while Net income Group share was EUR7m.
Credit Agricole’s Savings Management and Insurance business line, which encompasses asset management, insurance, private banking and asset servicing, had AuM of EUR1.25 trillion at end-December 2014, an increase of EUR112bn since end-December 2013. Net income Group share was EUR391m for the fourth quarter of 2014, up 6.7% year-on-year.
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By GlobalDataIn asset management, Amundi’s assets under management were EUR866bn at end-December 2014, up 11.4% since end-December 2013.
Overall, Credit Agricole Group reported a net income of EUR697m for the fourth quarter of 2014, an increase of 13% year-on-year.
