PARIS (dpa-AFX) - French lender Credit Agricole Group (CRARF, CDA.L, ACA), comprising Crédit Agricole S.A. and Regional Banks, reported Wednesday that its fourth-quarter net income Group share came to 671 million euros, compared to 1.56 billion euros a year ago.
The latest results included specific items of negative 977 million euros, compared to positive 59 million euros a year ago.
Excluding items, underlying net income Group share came to 1.65 billion euros, an increase of 9.5% from last year.
Crédit Agricole S.A.'s net income Group share came to 291 million euros. Underlying net income Group share came to 904 million euros, an increase of 52.6% from last year.
The Regional Banks' contribution to Crédit Agricole Group's underlying net income Group share was 707 million euros in the fourth quarter
The group's revenues declined to 7.90 billion euros from 8.03 billion euros last year. Underlying revenues were 7.83 billion euros, compared to 7.78 billion euros last year.
The company said the Group's fourth quarter results reflected strong business momentum in Retail banking's branch networks, the specialised subsidiaries and the Large customers business line.
Crédit Agricole S.A.'s revenues increased to 4.58 billion euros from 4.39 billion euros last year. Underlying revenues increased 10.9% to 4.48 billion euros.
Further, the company announced a dividend of 0.60 euro in cash for the year 2016.
Copyright RTT News/dpa-AFX