Credit Agricole’s French retail banking arm registered operating income of EUR1.21bn in the fourth quarter of 2014, down 18.76% as against 1.49bn in the year ago quarter.

Operating expenses dropped by 4% year-on-year in the fourth quarter and by 0.5% over the full year.

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The business’s customer assets increased by 2.1% year-on-year to EUR605bn, including EUR356bn in on-balance sheet deposits, which soared by 2.3% year-on-year.

Loans outstanding stood at EUR400bn, a rise of 0.6% year-on-year, while consumer credit outstanding stood at EUR14.9bn with a sharp rebound of 2.5% slowing the year-on-year drop to 1.0%.

The international retail banking unit of the bank posted an operating income of EUR88m, a rise of 28.4% compared to the year ago quarter.

Operating expenses of this division were EUR375m, a rise of 4.1% versus the same period the previous year.

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Overall, Credit Agricole group’s fourth-quarter net income climbed 13% to EUR697m from a year earlier.