The first quarter of Crédit Agricole is being archived, which closes with net income up 51% year on year, from 311 million euros to 469 million. The French bank's result was above all determined by the sale of the Greek subsidiary Emporiki which, together with Cheuvreux and CLSA, had produced losses of 907 million euros in the same period of the previous year.
On the other hand, as forecast by analysts, revenues, which fell 26% and amounted to 3,85 billion euro. Crédit Agricole, which has gained 18% on the stock market since the beginning of the year, has already announced a cost reduction plan of 650 million by 2016.
