Crédit Agricole has increased operating income
by 20.7% to €115.5m in the first half of 2010, helped by “robust
growth” in its lease finance and factoring businesses.
Lease outstandings climbed by 11.4 percent to
€18.2bn at 30 June. They were up by 11.4% in France, by 15.5% in
Italy, and by 9.6% in its overall international business.
International leasing business accounted for more than one fifth of
the business of Crédit Agricole Leasing & Factoring
(CALEF).
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In lease finance, the cost of risk rose by
18.8% in the second quarter of 2010. In factoring, receivables grew
23% year-on-year in France and 60% internationally.
Crédit Agricole Group is further expanding its
presence in Italy and, taking into account all its business
segments in the country, including leasing and factoring, it aims
to become one of the top seven players in the Italian banking
market.
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