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Credit Agricole's Hungarian branch profit drops sharply in H1

The Hungarian branch of the Credit Agricole Corporate and Investment Bank (CA-CIB) generated profit of HUF 400 million in the first half of 2010, down from a profit of HUF 1.8 billion in H1 of 2009, Credit Agricole informed MTI.

CA-CIB's Hungarian unit granted HUF 73 billion in loans during the first half of 2010, more than the HUF 69 billion it provided in H1 of 2009.

CA-CIB announced on August 26 that it would establish a regional cash-management center in Budapest. (MTI-Econews)