Hocher keeps cool as Crédit Agricole CIB hots up

Duncan Kerr
Published on:

After years of restructuring, Crédit Agricole’s corporate and investment bank is tentatively showing the signs of stability and growth that the group’s crisis-weary shareholders have long sought. Maintaining this course may well prove just as tough.

Four years after becoming chief executive of Crédit Agricole’s corporate and investment bank, Jean-Yves Hocher could be forgiven for expressing a quiet satisfaction at the division’s latest set of results. 

On February 19, the corporate and investment bank reported a 32% rise in annual profits to €1.03 billion for 2014 – the division’s second consecutive year of good and solid profitability and the first time it has breached the €1 billion income threshold under Hocher. 

Boosting annual revenues by 6.6% to €3.82 billion certainly helped, and that was almost entirely thanks to the performance from its financing, and capital markets and investment banking activities, which delivered revenues of €2.3 billion and €1.54 billion – up an impressive 12.5% and 9.5% respectively versus the year before. 

At the same time, CA CIB kept market risk and costs down, with value-at-risk...