The corporate and investment banking arm of France's Crédit Agricole this morning reported a full-year net profit of €1.5bn, easily surpassing the target set for the revamped unit in September 2008.

Crédit Agricole CIB, which was until February of last year was known Calyon, today reported a net profit of €374m for the fourth quarter of 2010, up 7.2% on the figure for the fourth quarter of 2009.