The Credit Agricole Group has collected €3.7bn from sales of structured products to investors in France during the first nine months of 2017, up from €2.3bn during the same period last year according to SRP data. The vast majority of the group's structured products sales (€3.4bn) were achieved via the large retail banking networks of both Credit Agricole and LCL, and of which SRP reported last month.

In addition, another €286m was collected in France from products issued via Credit Agricole SA (CASA) and Credit Agricole Corparate and Investment Banking (CACIB). The former acts as the bond provider of the CA Oblig Euro Stoxx 50 series distributed by Credit Agricole's retail banking network while CACIB is the manufacturer of retail products and public offers distributed, among others, by CA Indosuez Wealth, KBL Richelieu Banque Privée, Oddo & Cie, Allianz, Barclays, Rothschild Martin Maurel, Kepler Cheuvreux Solutions.

The CACIB vehicle also issued two structured certificates in Italy during the first nine months of 2017, including a product linked to the US CPI Urban Consumers NSA which was distributed via Banco Populare FriulAdria and sold €11.4m.

Credit Agricole Group issuers raised €28.4bn equivalent of medium- and long-term debt in the first nine months 2017, 53% of which was raised by CASA (€15.2bn equivalent), versus just over €33bn for the whole of 2016. Besides, debt securities amounting to €2.6bn were also collected by the group's retail networks (Regional Banks, LCL and CA Italia) during 9M 2017.

The group reported net income group share for the first nine months of 2017 amounted to €5.6bn, an increase of 35.1% versus the first nine months of 2016, which had been affected by significant negative specific items, according to the bank.

CACIB's capital markets business ranked fourth worldwide15 on bonds issued by financial institutions in euros in the nine first months 2017 while it was world leader in green financing (green bonds) all currencies combined. In Investment banking, advisory business performed well, confirming its fourth place in merger and acquisition (M&A) advisory in France with 30 deals.

After 2016's atypical seasonal profile, the key income indicators have, according to the group, returned to their underlying trend: strong growth in revenues, good control over operating expenses and decrease of the cost of credit risk, mitigated by a higher level of legal provisions (€115m versus €100m in the first nine months of 2016) and an increase in the effective tax rate from 23.9% in the first nine months 2016 to 26.2% in the first nine months 2017.

'In the first nine months of the year, Credit Agricole SA has succeeded in equalling last year's performance in terms of stated net income, despite the Eureka gain of more than €1bn recognised in the first nine months of 2016,' said Philippe Brassac (pictured), chief executive officer, in a statement. 'This result alone, which was achieved despite continued investment in development under the MTP, confirms the group's profitability and its ability to deliver growth in all its business lines.'

Click the link to view the full Credit Agricole third quarter & first nine months 2017 results and prestentation.

Related stories:
Amundi leads sales in France with €3.4bn year to date

Barclays and HSBC retain top 10 issuer ranking

Natixis rebrands asset management and private banking, unveils 'New Dimension' plan

Societe Generale reports good performance of structured products despite lacklustre market

Sweden remains downbeat; Denmark, Finland and Norway recovering in 2017