Fixed income and credit derivatives have helped net income in Crédit Agricole's capital markets and investment banking division rise by nearly 50% in the first half of this year, compared with the same period in 2002.

The French bank's half-year results are for the new group since Crédit Agricole bought rival Crédit Lyonnais in June. On Tuesday Jean Peyrelevade, chairman of Crédit Lyonnais, said he will resign from his post in the next few weeks at the request of René Carron, chairman of Crédit Agricole.