07-05-2021

Results for the first quarter 2021

STRONG ACTIVITY, SOLID RESULTS

Results for the first quarter 2021

FIND ATTACHED THE FULL PRESS RELEASE

STRONG ACTIVITY, SOLID RESULTS

GROUP CA AND CREDIT AGRICOLE S.A. STATED AND UNDERLYING DATA Q1-2021
Very good results, strong commercial activity compared to a pre-crisis Q1-20

 

 

 

 

 

 

 

CRÉDIT AGRICOLE GROUP

 

CRÉDIT AGRICOLE S.A.

 

 

Stated

 

Underlying

 

 

Stated

 

Underlying

Revenues

 

€9,049 m

+8.2% Q1/Q1

 

€9,082 m

+8.4% Q1/Q1

 

 

€5,493 m

+5.6% Q1/Q1

 

€5,508 m

+7.2% Q1/Q1

Costs excluding SRF

 

- €5,505 m

-0.8% Q1/Q1

 

- €5,501 m

+0.4% Q1/Q1

 

 

- €3,197 m

-1.8% Q1/Q1

 

- €3,193 m

-0.0% Q1/Q1

SRF

 

- €467 m

+2.8% Q1/Q1

 

 - €652 m

+43.4% Q1/Q1

 

 

- €380 m

+5.6% Q1/Q1

 

- €510 m

+41.7% Q1/Q1

Gross operating income

 

€3,078 m

+30.2% Q1/Q1

 

€2,930 m

+19.8% Q1/Q1

 

 

€1,916 m

+20.8% Q1/Q1

 

€1,805 m

+14.0% Q1/Q1

Cost of risk

 

-€537 m

-42.3% Q1/Q1

 

-€537 m

-42.3% Q1/Q1

 

 

  • €384 m

-38.2% Q1/Q1

 

-€384 m

-38.2% Q1/Q1

Net income Group share

 

€1,754 m

+93.2% Q1/Q1

 

€1,599 m

+63.0% Q1/Q1

 

 

€1,045 m

+63.9% Q1/Q1

 

€932 m

+43.1% Q1/Q1

C/I ratio (excl. SRF)

 

60.8%

-5.5 pp Q1/Q1

 

60.6%

-4.8 pp Q1/Q1

 

 

58.2%

-4.4 pp Q1/Q1

 

58.0%

-4.2 pp Q1/Q1

Crédit Agricole S.A. UNDERLYING DATA Q1 2021
Net income Group share up sharply: +43.1% Q1/Q1 to €932 m;
Gross operating income excluding SRF: +19.1% Q1/Q1 to €2,314 m;
Cost/ income ratio (excl. SRF): 58.0% (-4.2 pp Q1/Q1)
Cost of risk down to -€384 m, after a significant increase in provisioning in 2020

 

Strong solvency

 

 

 

 

 

 

 

 

 

CRÉDIT AGRICOLE GROUP

 

CRÉDIT AGRICOLE S.A.

 

Phased-in CET1

 

17.3%

 

+0.1 pp Mar/Dec

 

 

12.7%

 

-0.4 pp Mar/Dec

 

 

 

+8.4 pp above SREP requirements

 

 

+4.8 pp above SREP requirements

 

 

 

€19.7 bn in loan loss reserves at end-March 21

 

 

NPL ratio stable at 3.2%, coverage ratio up 72%

Unwinding of 15% of switch  

 

Mobilisation of the Group to protect, boost and transform the economy

 

           

 

 

CRÉDIT AGRICOLE GROUP

 

CRÉDIT AGRICOLE S.A.

 

 

 

SGL: €35.2 bn in France and Italy

Moratoria: €0.7 bn in France and <€0.5 bn in Italy

 

+5.0% RB loans outstanding excl. SGL

Increase in RB home and corporate loan market share

1st renewable energy private financer and institutional investor in France

 

 

CAA #1 insurer contributing to the Prêts Participatifs Relance (recovery participating loans): €2.25 bn

 

+3.4% LCL loans outstanding excl. SGL

 

+11% renewable energy outstanding in 2020

 

1st bank to launch an ESG platform

 

 

HIGHLIGHTS Ongoing development initiatives in Europe

 

  • Crédit Agricole Italia will strengthen its market share in Northern Italy with the success of the public offer for CreVal (91.2% acceptance for a price of €12.27 per share paid by CAI)
  • Amundi in exclusive negotiations with Société Générale to acquire Lyxor, to reach a 14% market share of the growing European ETF market.

 

 

 

Dominique Lefebvre,

Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors

“All Group employees are fully committed to protect the economy during the crisis and support the recovery. And we are fulfilling our commitments regarding societal transformation. 1st bank to commit to fully exit thermal coal by 2040, we are also the 1st bank to launch an ESG reporting platform, notably to assess the mix of our energy exposures.”

Philippe Brassac,

Chief Executive Officer of Crédit Agricole S.A.

“Our first-quarter performance is the result of the outstanding commitments of our teams to support customers. The Group is delivering on its development model, fundamentally focused on organic growth, supported by wide cooperation between our business lines and possible targeted external operations. In a context of economic upturn and renewed international competition, the Group is determined to support recovery.”

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