Crédit Agricole S.A.'s Board of Directors, chaired by René Carron, met on 1 June 2005 to approve the results for the first quarter of 2005, prepared using international financial reporting standards (IFRS).

Net income (Group share) amounted to €905 million in the first quarter of 2005, a strong increase (+ 41.6%) compared with the same period of last year. This performance was the result of strong growth in gross operating income (up 26%), coupled with low risk-related costs and a sharp increase in the contribution from equity affiliates (up 17.9%). It was driven by sustained commercial momentum at the Regional Banks and Crédit Lyonnais, sharp increase in asset management and specialised financial services and a strong growth in corporate and investment banking results [...]