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Credit Agricole sees CEO decision by end next week

Credit Agricole has given itself until the end of next week to decide on a new CEO, the French bank said as it posted a 13 percent increase in quarterly profit.

Chairman Jean-Marie Sander said the bank's nomination committee had not yet reached a decision on a replacement for outgoing Chief Executive Jean-Pault Chifflet, whose mandate finishes in May.

The bank reported a fourth quarter net profit of 697 million euros ($795 million) as revenues fell 2 percent from the same quarter of 2013 to 3.894 billion euros. Risk provisions fell 42 percent over the period to 499 million euros.

Analysts had expected on average profit of 604 million euros on revenues of 4.1 billion euros, according to data compiled by Thomson Reuters I/B/E/S.

The bank proposed a 2014 dividend of 0.35 euros, unchanged from the previous year.

A pedestrian passes a Credit Agricole SA bank branch in Rodez, France.
Balint Porneczi | Bloomberg | Getty Images
A pedestrian passes a Credit Agricole SA bank branch in Rodez, France.