Credit Agricole’s private banking business assets under management (AuM) stood at EUR132.2 billion at 31 December 2013, stable compared with end-December 2012.
The bank said that a positive market effect of EUR4.3 billion negated the net outflows and negative currency effect.
The business’s AUM rose by 2.3% in France over the full year to EUR61.8 billion while they decreased abroad by 1.9% over the same period to EUR70.4 billion.
The savings-management division, which includes asset management, insurance, private banking and custody, fourth-quarter profit fell 18% to EUR367 million, hurt by a EUR35 million tax charge at the insurance business, the bank said in its statement.
Overall, Crédit Agricole Group reported a net income of EUR612 million, versus a loss of EUR3.905 billion last year.
During the latest quarter, the group’s revenues rose by 21.9% year-over-year to EUR4.05 billion.
