Sharp increase in results

Crédit Agricole S.A.'s consolidated results for first-quarter 2004 showed a very sharp increase on first-quarter 2003. Net income group share (before goodwill amortisation and integration-related costs) came to € 710 million, up 52.0% compared to an admittedly lacklustre first-quarter 2003. These results reflect: (i) the continued robust growth momentum in the retail banking business and its related activities (specialised financial services and asset management); (ii) stronger results from corporate and investment banking, chiefly due to a reduction in risk-related costs; and (iii) a sharply improved contribution from international retail banking.[...]