Credit Agricole beats expectations

• Helped by a recovery in its investment banking activities and a sharp reduction in its provisions against loan losses, Credit Agricole (OTCPK:CRARY) today reported quarterly profit that beat market expectations.
• Net income for Q4 came in at €697M ($795M), up 13% from the same period in 2013.
• The bank also said it hopes to soon name a successor to its chief executive, Jean-Paul Chifflet, who retires in May. On Sunday, Philippe Brassac was reported to be the main candidate in the running.