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Caisses populaires acadiennes reporting record fiscal results

Last year was a good one on the financial front for the Caisses populaires acadiennes.

At their annual meeting, held in Bathurst last Friday and Saturday in Bathurst, the Mouvement des caisses populaires acadiennes reported a 30 per cent increase in surplus earnings for 2007, before taxes and dividends, having reached a historical high of $27.7 million.

This "exceptional performance," said a news release, is partly attributed to an increase in net interest income, which was up nine per cent, growing from $93 million in 2006 to $101 million in 2007.

Meanwhile, the Mouvement continued to grow its assets for a total of $2.7 billion. This represents an increase of $273 million, up 12 per cent compared to the 2006 fiscal year.