Calyon is always deficit in the second quarter, the cost of the risk has almost tripled and Emporiki continues to weigh heavily on the accounts. However, the first French Bank, Credit Agricole SA, has reassured yesterday. "I can assure you that if this period is particularly tough for the economy, businesses and some individual customers, Credit Agricole has the means to assume its responsibilities", said René Carron, its President yesterday. A message was heard by the market, the title is being launched from 3.65 to the clôture.
Especially, the structure listed Green Bank, among the first affected by the crisis of the "subprime" in 2007, can boast to be one of the rare French settlements to publish a net result rose to the second quarter of 2009 on one year: EUR 201 million, against EUR 76 million, despite a cost of risk amounted to EUR 1.1 billion. Certainly modest profit for the banking giant, but René Carron insists: "it is a cold figure, we must see that there is behind it, i.e. a capacity to more than 800 million euros of net result for the quarter. Practicing the same year as its competitors, the leader puts forward the exceptional elements which have burdened the results. Among them, the equity of participation in Italian Intesa Sanpaolo, which accounted for EUR 206 million, and the judgment of the BFI (-465 EUR) activities.
But the recovery of profits is mainly in the decrease of Calyon losses from last year, because for almost all of the trades (except France, non-LCL retail bank), the quarterly results are declining on a year. Main contributor, the pole asset management, insurance and private bank, saw its net income decrease by 11 to 370 million euros for a GNP fell by 6 to EUR 988 million.
A growth relay
Same observation for the specialty, the net result of which financial services pole is declining by 23, particularly due to the doubling of the cost of the risk and despite an increase of 21 of revenues. "But we have ensured a relay of the agreement with Société Générale AM growth in the management and the repurchase of Ducato in specialized services", provides René Carron. Side Bank of detail at the international, Emporiki and Greek subsidiary acquired in 2006, is still a major focus of losses, absorbing all of the benefits of the rest of the pole. Including Emporiki, the result is negative for 50 million, but positive 105 million without. The presentation of a strategic plan is scheduled for October 7 or 8 and a return to profitability announced for 2011. Conversely, in Italy, the situation is fixed beautiful: the contribution of Cariparma, FriulAdria to the quarterly net result is positive 62 EUR 378 million of income.
BPCE and BNP Paribas, Credit Agricole SA gave no date for the repayment of funds provided by the State: "we are the Bank that had the least need the support of the State.". It also subordinated loans, step of actions of preference, as some of our competitors. It does gives us not nightmares the night. "We favour as intelligent as possible financial management", ruled René Carron.
Fifteen years after the pain is still burningBut it will obviously help him well off the yearBanks are aware of any share says an expertFor each new quarter he won a raise of 1Given a consumption likely increased by 5Bernard Accoyer replied on a practical levelA small flexible teamOur small size is not a handicapIn midNovember we will have final offersWork brokerage is a profession that has any placeTense economic differences and rivalries are aggravated
