Assets under management (AuM) at Crédit Agricoles (CA) private banking unit rose 2.3% to 129.2bn ($167bn) in the first quarter due to a 3.4% rise in LCL Banque Privées AuM.
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While AuM witnessed some favourable currency effect in last three months, international operations were adversely affected by instability in the euro zone and customer mistrust of European banks, the bank said.
However, AuM remained almost constant on a year-on-year basis increasing by only 0.5bn.
AuM at CAs French bank recorded a 0.9% rise, and international bank rose 2.2%.
Revenues almost constant on YoY
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By GlobalDataExcluding LCL Banque Privée, CA private bankings contribution to group net income slid 1m to 34m on a year-on-year basis, while its cost income ratio rose 2.3 points from 72.4% to 74.7% year-on-year.
Revenues at CA private banking were 0.6% up to 176m on a year-on-year basis, and operating expenses were 3.8%, a 5m increase from 127m when compared to the same quarter last year.
