Credit Agricole S.A.: Sharp Increase in First Quarter 2005 Results.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Credit Agricole S.A.: -- Gross operating income: EUR 1,024 million (up 26.0%) -- Net income (Group share): EUR 905 million (up 41.6%) --For comparability, Q1-2004 figures have been estimated using IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System , including IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. 32 and 39 and IFRS 4, on a like-for-like basis and comparable methods. These estimates have not been audited. CONSOLIDATED RESULTS FOR CREDIT AGRICOLE S.A. Net income (Group share) for the first quarter of 2005 came to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 905 million, an increase of 41.6% compared with the same period of 2004. This performance reflects strong growth in operating results from retail banking and related activities, a decrease in risk-related costs and an increase in the contribution from equity affiliates. Gross operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. rose by 26.0% to EUR 1,024 million, with two contributing factors: --A Net banking income increase of 9.7% to EUR 3,233 million, driven by sustained activity in asset management and specialised Adj. 1. specialised - developed or designed for a special activity or function; "a specialized tool" specialized specific - (sometimes followed by `to') applying to or characterized by or distinguishing something particular or special or unique; "rules with financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. ; --Well controlled operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. (up 3.6%), with cost synergies Cost Synergy In the context of mergers, cost synergy is the savings in operating costs expected after two companies, who compliment each other's strengths, join. Notes: The savings in operating costs usually come in the form of laying off employees. achieved absorbing most of the extra costs arising from growing business. On a like for like basis (full consolidation of Eurofactor), the rise of costs is limited to 3.1%. The cost/income ratio therefore improved by 4.1 percentage points to 68.3%. Risk-related costs were EUR 138 million, down 33.3% on the first quarter of 2004. The contribution from equity affiliates rose by 17.9% from EUR 329 million to EUR 388 million. This growth was due to a 7.9% increase in the contribution from the Regional Banks (EUR 236 million vs EUR 219 million in the first quarter of 2004) and in the contribution from international retail banking (EUR 123 millions up 44.4% on the first quarter of 2004) mostly from Banca Intesa Banca Intesa S.p.A. is a major Italian bank based in Milan. It was born in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde (aka Cariplo) and Banco Ambroveneto (former Banco Ambrosiano). . Pre-tax income on ordinary activities came to EUR 1,279 million, an increase of 37.5% on the first quarter of 2004. Net income (Group share) before integration-related costs rose by 40.7% to EUR 937 million, giving an annualised ROE A fictitious surname used for an unknown or anonymous person or for a hypothetical person in an illustration. A lawsuit is generally named for the persons who are parties to it. of 15.3%.
In EUR millions Q1-04 Q1-05 % change
Q1-05/Q1-04
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Net banking income 2,946 3,233 +9.7%
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Operating expenses (2,133) (2,209) +3.6%
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Gross operating income 813 1,024 +26,0%
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Risk-related costs (207) (138) (33.3%)
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Equity affiliates 329 388 +17.9%
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Net income on other assets (5) 5 n.m.
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Pre-tax income on ordinary activities 930 1,279 +37.5%
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Integration-related costs (41) (49) +19.5%
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Net income 716 972 +35.8%
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Net income - Group share 639 905 +41.6%
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Net income - Group share before
integration-related costs 666 937 +40.7%
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