For the year 2001, the contribution to the Desjardins network by Caisse centrale Desjardins, the financial agent of the Desjardins Group, grew by 15 % to total $64 million.

These results were obtained despite an increase of $9.5 million in provisions for bad debts, which totalled, for 2001, $12.6 million, due to the bad economic conditions in North America.

At Dec. 31, 2001, assets stood at $10.2 billion, similar to year end of 2000. The increase of the loan portfolio to the private and institutional sectors and the increase in liquidity, were offset by the reduction of loans to Desjardins network, due to the caisses’ success in savings retention.

Compared to Dec. 31, 2000, Caisse centrale Desjardins’ deposits decreased by $168 million, or 2 %, for a total of $7.7 billion as of Dec. 31, 2001. At year end, 53 % of its deposit liabilities were raised on the international markets.

The firm says, “All of our business sectors have contributed to this increase in the results. In addition to the treasury revenues, loans to the private sector and foreign exchange activities, two lines of business focused on over the past few years, have registered significant growth in revenues.”