2010 first half and second quarter results: a solid base of recurring income

Crédit Agricole's Board of directors, chaired by Jean-Marie Sander, met on 25 August 2010 to review the accounts for the first half and the second quarter of 2010.

Net income - Group share amounted to 379 million euros in the second quarter of 2010 (849 million euros in the first half of 2010). During the second quarter, Crédit Agricole S.A.'s net banking income reached the record level of 5,469 million euros, as did the gross operating income at 2,064 million euros.

In a climate of persistent uncertainty and economic weakness, Chief Executive Officer Jean-Paul Chifflet highlighted that Crédit Agricole S.A.'s performance over the period was underpinned by a solid base of recurring income. Results reflected the trends which were observed during the previous quarter and were confirmed across almost all the business lines throughout the first half of 2010: robust business momentum, solid operating income and lower cost of risk.