Credit Agricole endured an 11 per cent drop in revenue as a result of losses at its Greek unit - but the decline was not as sizeable as previously predicted by analysts at Bloomberg.
Net income at the lender tumbled to â¬339 million ($488 million) in the three months up to and including June, which was markedly lower than the â¬379 million posted 12 months earlier.
Despite this, earnings at the institute - which was named Global Bank of the Year by The Banker magazine in 2007 for its environmentally-friendly and socially-minded policies - proved greater than the â¬187 million average anticipated by industry figures surveyed by the news agency.
Jean-Paul Chifflet, chief executive officer at Credit Agricole, said the bank is targeting annual net income of between â¬6 billion and â¬7 billion in 2014.
By Tony Aynsley