Caisse centrale Desjardins, the financial agent of the Desjardins Group, is reporting improved net income for the first quarter ending March 31.

The group reports net income of $10.5 million, compared to $7.9 million last year. It attributes this 33 % improvement to the two core areas that have been the focus of its business development efforts during the last few years, namely foreign exchange activities and business sector loans.

As of the end of the first quarter, assets totalled $11.3 billion, up $1.2 billion from December 31, 2000. This increase of 12 % is explained essentially by the growth in most sectors of the loan portfolio. Deposit liabilities and subordinated debentures were at $9.2 billion, up 17 % over December 31. A total of $4.5 billion, or 49 % of deposits and subordinated debentures was raised on international markets. Caisse centrale Desjardins maintained capital of $726 million.