Crédit Lyonnais' investment banking business delivered one of the biggest surprises of the European banks' reporting season by posting a 55.7% increase in net profits in 2001 - when other firms have seen profits fall in the region of 40%.
The investment banking business of Crédit Lyonnais produced net profits in 2001 of €142m ($126m), up 55.7% on the year before. The bank said in a statement that this was down to a "very strong progression in fixed income, a return to profit in the treasury business, and a strong performance from fixed income derivatives".
