Credit Agricole’s savings management and insurance business line, which encompasses asset management, insurance, private banking and asset servicing units, has posted a net income of EUR438m for the first quarter of 2015, an increase of 10.7% compared to EUR395m a year ago.
For the quarter ended 31 March 2015, the business line’s net income group share increased 11.3% to EUR402m from EUR361m a year ago.
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Its revenues increased 10.1% to EUR1.43bn from EUR1.29bn in the first quarter of 2014.
In the private banking segment, assets under management (AuM) increased 7.3% quarter-on-quarter to EUR151.9bn, mainly driven by net asset inflows of EUR1.5bn.
In private banking unit, assets under management (AuM) rose by 7.3% quarter-on-quarter to EUR151.9bn at 31 March 2015, due mainly to net asset inflows of EUR1.5bn in the first quarter of 2015, the French bank said in its statement.
In asset management, Amundi’s assets under management stood at over EUR950bn. Net new inflows amounted to a record level of EUR24bn during the first quarter, half of this amount realised outside France, in particular in the rest of Europe and Asia, the statement added.
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By GlobalDataOverall, Credit Agricole’s net income group share was EUR784m for the first quarter, a 2.6% rise compared to EUR764m a year ago. Revenues rose by 7.5% to EUR4.36bn from EUR4.05bn in the year ago quarter.
