Today, Crédit Agricole CIB presents the details of its targets for 2022, which form part of the Group project and Crédit Agricole Group Medium Term Plan 2022.
Crédit Agricole CIB is a corporate and investment bank which has chosen to focus more on financing activities and corporate clients, and which is based on a powerful and well-coordinated international network.
Its resilient, profitable and conservative business model is based on:
A client-focused organisation, with an automated and systematic measure of the profitability,
High value-added financing activities generating a strong RONE(1),
Market activities which complement the financing activities for its clients,
A low risk profile, supported by an expert and conservative approach on its exposures.
Within the framework of the MTP 2022, the targets for 2022 combine:
A RONE remaining above 10%;
Contained RWA(2) , with an RWA target of €123bn in 2022;
A revenue growth of +3% on average per year by 2022, driven by all business lines:
Development of the transactional commercial bank (accounting for ~25% of the revenue growth between 2018 and 2022)
Priority given to eight key sectors (revenue growth of +5% on average per year),
Revenue growth of +€300m for FICC,
Doubling the size of the green loan portfolio.
A low cost/income ratio (less than 55%), with a cost reduction of €190m enabling to keep investing,
The above being based on the assumption of a normalisation of the cost of risk: 20 to 25 bp.
Crédit Agricole CIB is also going to roll out several cross-functional projects, including:
A human-centric project aiming at building the future by onboarding the new generation of experts, at empowering the employees and at significantly communicating the values of the Group,
Continuously strengthening the expertise of the business lines - the core of the resilience of the model,
Implementing a three-year data project, which forms the foundation of the digital strategy,
Consolidating its role as a leader in green and sustainable finance, extending its offering of sustainable solutions to all business lines.
corresponding to an RWA allocation of 9.5%
stable RWA excluding regulatory, BSF and FX impacts
As one of today’s world leaders in green bonds, and as a pioneer for climate finance for nearly 10 years, Credit Agricole believes that it is imperative to decarbonize our economies, [...]
"Acting every day in the interest of our customers and society"
Crédit Agricole Group is presenting a new Group Project and a new 2022 Medium-Term Plan jointly drafted by the Regional banks and Crédit Agricole S.A. For the first time, the Group Pr [...]
A new Group Project
Crédit Agricole Group is formally setting out its Raison d’être: “Working every day in the interest of our customers and society”. It confirms its customer-focused universal banking model with three pillars:
Excellence in customer relations: be number one in customer satisfaction by becoming the favourite bank of individuals, entrepreneurs and corporates;
Empowered teams for customers: to accompany digitalisation by offering customers human, responsible and accessible skills;
Commitment to society: amplify our mutualism commitment to reinforce our position as the European leader in responsible investment.
A new Medium-Term Plan (2019-2022)
Raised and secured profitability targets
A strong Group, which allows for agile capital management
Target net income Group share for 2022: > €5bn for Crédit Agricole S.A.;
2022 ROTE: >11% for Crédit Agricole S.A.;
CET1 at year-end 2022 factoring in regulatory changes:
> 16% for Crédit Agricole Group
11% for Crédit Agricole S.A.
Three levers for the new Medium-Term Plan:
Growth on all our markets with the goal of being number one in customer conquest;
Revenue synergies totalling €10bn in 2022;
Technological transformation for greater efficiency with a €15bn allocation over four years.
Today we are expressing for the first time our raison d'être and our new Group Project, which brings the long-term vision of the entire Crédit Agricole Group. For a century, Utility and Universality have made Crédit Agricole the 10th largest bank in the world: a universal bank, complete, diversified and solid. Our raison d'être is looking forward and must guide our transformation.
Dominique Lefebvre, Crédit Agricole S.A. and FNCA Chairman
Philippe Brassac, Crédit Agricole S.A. CEO
Raphaël Appert, FNCA Vice-President and Crédit Agricole S.A. First Vice-President
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©2016 Crédit Agricole