Crédit Agricole: First Quarter 2023 Results
Τετάρτη, 10 Μαΐου 2023 14:43ATTRACTIVE UNIVERSAL BANKING: STRONG ACTIVITY IN ALL BUSINESS LINES
- CAG customer capture: +555,000 new customers in Q1
- Dynamic sales in insurance, CIB and consumer finance
PERFORMING UNIVERSAL BANKING: RECORD NET INCOME OF €1,249M
- Revenues +10.4% Q1/Q1 pro-forma IFRS 17, +12.6% excluding base effect of TLTRO special interest period
- CA Italia, IRB excluding Italy, CACEIS and CA Indosuez revenues sustained by net interest margin
- SFS and French retail banking impacted by the increase in refinancing costs
- Expenses +2.4% Q1/Q1 pro-forma IFRS 17, jaws effect +5.7 pp excluding TLTRO and excluding SRF
- Cost/income ratio excl. SRF 54.1%
ACTIVE UNIVERSAL BANKING: STRUCTURAL OPERATIONS IN LINE WITH THE MTP
- Launch of Leasys JV and 100% consolidation of CA Auto Bank in Q2-23; +100,000 ALD/Leaseplan vehicles in H2-2023
- Entry into exclusive negotiations with Worldline in Q2-2023 to create a major player in merchant payment services in France
- Acquisition of Sudeco (Property Management) by CA Immobilier in Q1-2023
SOLID UNIVERSAL BANKING: SOLID CAPITAL AND LIQUIDITY POSITIONS
- Crédit Agricole S.A. phased-in CET1 11.6% (370 bps>SREP)
- CAG phased-in CET1 17.6% (870 bps>SREP)
- LCR 162,6% and €457bn in liquidity reserves at Crédit Agricole Group level
- Stock of provisions for performing loans €20.0bn, coverage ratio 83%
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