03.08.2017

Results for second quarter and first half 2017

Q2-17: another quarter of strong growth in net income

Crédit Agricole Group*

Stated net income Group share

Q2: €2,106m
+8% Q2/Q2
 H1: €3,706m
+34% H1/H1

Stated revenues

Q2: €7,928m
-4% Q2/Q2
 H1: €16,177m
+5% H1/H1

Fully-loaded CET1 ratio

15.0%
550bp above the P2R[1]

  • Acceleration in growth: retail banks, specialised businesses and Large customers
  • Q2 underlying[2] NIGS[3]: €2,003m, +23% Q2/Q2 (H12: €3,656m, +27% H1/H1)
  • Q2 underlying revenues2: €7,940m, (H12: €16,272m, +4% H1/H1)
  • Fall in cost of credit risk to 21bp[4] net provision reversals at Regional Banks in Q2

* Crédit Agricole S.A. and 100% of Regional Banks

Crédit Agricole S.A.

Stated net income Group share

Q2: €1,350m
+17% Q2/Q2
 H1: €2,195m
+59% H1/H1

Stated revenues

Q2: €4,708m
-1% Q2/Q2
 H1: €9,408m
+10% H1/H1

Fully-loaded CET1 ratio

12.4%
+55bp in Q2

  • Q2 underlying2 NIGS3 €1,174m, +43% Q2/Q2 (H12: €2,067m, +70% H1/H1), earnings per share2: €0.38
  • Positive contribution to growth from all business lines
  • Q2 underlying2 revenues +6.5% Q2/Q2 (H12: +10.2%), prudent revenue externalisation policy in insurance
  • Operating expenses2 excluding SRF[5] quasi stable (Q2/Q2 +1.1% ; H1/H1 +0.9%), 3.3pp improvement in cost/income ratio excluding SRF2 Q2/Q2 to 60.5% (H1: 61.6%, 5.7pp improvement)
  • Firm grip on risk in all business lines: cost of credit risk 35bp4, down -6bp Q2/Q2
  • 95% of 2017 MLT market funding programme of Crédit Agricole SA completed at end-July,
  • Note: target CET1 ratio of 11% in the Medium-term plan
 

[1] Pro forma P2R for 2019 as notified in 2016 by the ECB

[2] Underlying, excluding specific items. See p. 15 onwards for further details on specific items

[3] Net income Group share

[4] Average over last four rolling quarters, annualised

[5] Contribution to Single Resolution Fund (SRF)