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February 20, 2014updated 04 Apr 2017 2:29pm

Credit Agricole’s private banking arm AuM reaches EUR132.2 billion during Q4

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.

By Verdict Staff

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.

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