Credit Agricole SA Q1 net income jumps to €1bMay 13, 2011 - 09:42 AMT PanARMENIAN.Net - Credit Agricole SA (ACA), France’s third-largest bank by market value, reported a doubling in first quarter profit, helped by higher revenue at its investment bank. Net income jumped to 1 billion euros ($1.42 billion) from 470 million euros a year earlier, Bloomberg reports. Chief Executive Officer Jean-Paul Chifflet, who took over last year, is aiming to reach between 6 billion euros and 7 billion euros of net income in 2014, helped by a turnaround at the international consumer-banking business. Credit Agricole is seeking to halt losses next year at its Greek unit, which has lost more than 2 billion euros since 2008. In September 2006 the French Credit Agricole Banking Group purchased 28% shares of the Agricultural Cooperative Bank of Armenia [ACBA Bank], and the ACBA Bank was renamed to ACBA Credit Agricole Bank. The bank has 40 branches (including the Head office): 6 - in Yerevan, the rest in the 10 provinces of Armenia. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia's Davit Chaloyan qualifies for Paris Olympics The Armenian boxer qualified for Paris Olympics after a series of successful bouts at the 2nd World Qualification Tournament. Lemkin Institute urges Armenia to respect people’s right to dissent The Lemkin Institute has urged the Armenian government to respect people’s fundamental human right to express their dissent. French-Armenian journalist returns to France after 41-day hunger strike Nicolian said on social media on Sunday, June 2 that he needs to improve his health in order to “continue the fight”. Iran’s Red Crescent sends aid to Armenia’s flood-hit regions The Iranian Red Crescent Society has sent humanitarian aid to the victims of deadly floods that hit northern Armenia on May 25-26. |