Results for the first quarter 2021

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

1^st 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

1^st 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.