8 billion while operating expenses fell by 2

While the Board of Directors confirmed Tuesday the arrival of Jean-Paul Chifflet branch of Credit Agricole SA effective March 1, 2010, Georges Pauget, the current boss of the vehicle side of regional banks, was able to rely on results quarterly "solid", before confirming his departure at the end of the publication of a fiscal year 2009, which is expected to testify for the relief of group. "The loop will be buckled", he concluded.

René Carron, who will leave his chair of President of Casa as expected after the General Assembly of may Jean-Marie Sanders, have also made a tribute to the work, addressing the Board of Directors "warm thanks" to Georges Pauget.

Taken as a whole, the Group Crédit Agricole (rated vehicle and regional 100 cash) has now reached the area of profitability that it was was set last year, between 700 and 900 million euros by quarter, even though its net income advanced all just below the range September 30 because of the legacy of the crisis on its portfolio of toxic assetsthe cost of risk and the persistent difficulties of its subsidiary Greek Emporiki.

In the first quarter, Credit Agricole SA reached a net profit of 289 million euros, down 20.8 over a year (692 million in the first nine months of year, 48.1) but higher than the expectations of analysts. At the time, the title won 5.59 yesterday, 15,31 euros. By including the portfolios of risky assets managed in extinction, Calyon, the funding and investment (BFI) of the Credit Agricole Bank, remains in the red in the third quarter (EUR-99). But weighted activities "run-off" jobs have been reduced to EUR 14 billion at 30 September against 22 billion at June 30. "Should happen in the workplace of the year next to a standardized Calyon", said Bertrand Badré, Chief Financial Officer. The cost of the risk, it stood at EUR 1.19 billion in the third quarter, up 60 over a year but up only 5.5 over the second quarter. The risks are still important in retail banking international mainly because Emporiki, specialized financial services and the BFI.

Good news

For the rest of the group are rather good. The net banking product jumped 20.7 in the third quarter, to EUR 4.8 billion, while operating expenses fell by 2.3, which allowed a doubling of gross operating income, EUR 1.77 billion.

Revenues are derived by dynamism found in retail banking, the vitality of specialized financial services and asset management performance. Is notable, customer regional caisses GDP jumped 7.7 over nine months, fired by the credits, production rose by 7.2 between July and September, the new credits to the habitat climbing even from 41 in October. At the time, the contribution of caisses grew 63 in the quarter, to EUR 222 million. For Bertrand Badré, "the engine of regional banks turned increasingly faster".Pole financial services revenues increased to 28.5 in the quarter (22.5 over nine months), including through the integration of Ducato in Italy, but the cost of the risk has almost doubled in the quarter, limiting the progression of their contribution (-15 over nine months) to 4.8.

On the other hand no cloud in the sky of the pole asset management, insurance and private banking: GNP increases to a third party in the third quarter marked by the global consolidation of Caceis and resumed activity.

Life insurance, the turnover progresses of 14 over nine months in France against 10 for the market and the net collection increased by 60 against 37 for the sector. In total, the pole saw its net income leap of 56.7 in the third quarter (EUR 426 million), becoming by far the main contributor to the group. The creation of Amundi Asset Management with Société Générale should reinforce this positioning.