Caisse centrale Desjardins, the financial agent of the Desjardins Group, reports improved net income for the second quarter ended June 30.

Caisse centrale Desjardins says that its net income for the second quarter climbed to $11.2 million from $9.1 million last year. Underlying this 22% growth are foreign exchange activities and business loans, the two core areas that have been the focus of Caisse centrale Desjardins’ business development efforts during the last few years.

The increase of business loans was offset by the decrease of loans to the caisses’ network, which continues to experience an increase of its liquidities.

At the end of the second quarter, 2001, assets totalled $10.1 billion, flat with December 31, 2000. Deposit liabilities were $7.8 billion, which is also flat with the end of last year. At the end of the quarter, its Tier 1 capital was $660 million, a ratio of 11.2%.