Desjardins Trust posted net earnings of $3.4 million for the quarter ended on March 31.

That represents an increase of 17.2% over the $2.9 million posted for the same period in 2001.

The company said the increase was due to a good performance in terms of net investment and fee income, combined with a controlled evolution of expenses.

Return on common shareholder’s equity was 21.4%, in comparison to 15.8% for the first quarter of 2001.

Fee income rose by 6.5% over figures posted for 2001, to reach $22.9 million at the end of the first quarter.
Gains in institutional savings plans, asset custody and administration services, and investment funds were responsible for the increase.

Net earnings from investments increased by 4.7% to reach $6.6 million.

Assets amounted to $1.26 billion as of March 31, compared to $1.29 billion as of December 31, 2001.