Fourth quarter & Full-year 2024 results

All of the financial targets of the 2025 Ambitions plan exceeded as of 2024

Strong increase in quarterly and full-year earnings

• Record quarterly and full-year revenues, fuelled by the excellent performance by Asset Gathering and Large Customers
• High profitability: low cost/income ratio (increase in recurring expenses contained at +3.0% Q4/Q4) and 14.0% return on tangible equity in 2024
• Cost of risk rose in Q4-24, driven by provisions for performing loans related to model effects at Crédit Agricole CIB and Crédit Agricole Personal Finance & Mobility (CAPFM)

Proposed 2024 dividend increase to €1.10 per share (+5% vs. 2023)

Strong activity in all business lines

• Robust growth in retail banking and consumer finance driven by multiple factors:  continued upturn in the home loan business in France (up +18%), higher corporate loan production, thriving international lending business, consumer finance stability at a high level and confirmed stabilisation of the deposit mix in France
• Record CIB, asset management and insurance business, reflected in the record level in insurance revenues with contributions from all activities, high net inflows and record level of assets under management, as well as a new quarterly and full-year record reached by CIB

CAPITAL OPERATIONS and strategic projects

• Instruments finalised to acquire an additional 5.2% in Banco BPM
• Signing of an agreement for the acquisition of Santander’s 30.5% stake in CACEIS
• Acquisition of aixigo, European leader in Wealth Tech
• Finalization of the acquisition of 50% of GAC Leasing in China by CAPFM

Solid capital and liquidity positions

• Crédit Agricole S.A.’s phased-in CET1 at 11.7% and Group phased-in CET1 at 17.2%

Continued support for the energy transition 

• Phased withdrawal from fossil energies and reallocation of investments to renewable energy
• Decarbonisation pathways in line with targets (oil & gas, power and automotive)

At the meeting of the Board of Directors of Crédit Agricole S.A. on 4 february 2025, SAS Rue La Boétie informed the company of its intention to purchase Crédit Agricole S.A. shares on the market for a maximum amount of 500 million euros in line with the operations announced in August 2023 and in November 2022. Details of the transaction are provided in a press release issued today by SAS Rue La Boétie.

Dominique Lefebvre, Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors
« The Group's excellent results illustrate our overall capacity to support all our customers in a global and loyal relationship over the long term. Three-quarters of these results are retained to serve the development of the economy. I would like to thank all of our employees who work every day with professionalism and commitment. »

Philippe Brassac, Chief Executive Officer of Crédit Agricole S.A.
« Driven by its unique Group model based on utility and universality, the Crédit Agricole Group reports excellent results in 2024. Crédit Agricole S.A. has once again exceeded all the financial objectives of its strategic plan, one year ahead of schedule. »