Results : very strong quarter, 2024 income target confirmed

Results up for the first nine months of the year; target confirmed of >€6bn in net income Group share for 2024

Strong quarterly result

• +8.2% growth in net income Group share excluding base effect related to reversals of Home Purchase Savings Plan provisions in Q3-23
• High level of revenues, sharply up in underlying vision
• Low cost/income ratio; support for business line development with a +4.1% increase in recurring expenses

Strong activity in all business lines

• Solid performance in retail banking and consumer finance, supported by a good level of customer capture, higher on-balance sheet deposits in France and stable on-balance sheet deposits in Italy, gradual recovery in home loan activity and increased corporate loan production in France, continued momentum in international loan activity, and consumer finance activity stable at a high level
• Excellent business momentum in CIB, asset management and insurance, reflected in high gross inflows in life insurance, continued brisk business in property and casualty and personal insurance, solid level of inflows and a record level of assets under management, CIB business still robust and record nine-month revenues

Continued strategic projects

• Partnership with GAC in China on leasing and in Europe on automotive financing
• Signing of an agreement to acquire Merca Leasing
• Acquisition of Nexity Property Management

Very solid capital and liquidity positions

• Crédit Agricole S.A. phased-in CET1 11.7%
• CA Group phased-in CET1 17.4%

Dominique Lefebvre, Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors 
“The Group reports solid results this quarter. These results reinforce its desire to be useful to all its customers and to play a leading role in actively supporting the economy.”  

Philippe Brassac, Chief Executive Officer of Crédit Agricole S.A. 
“Quarter after quarter, the Group publishes high-level results confirming the outlook for a 2024 result that is one year ahead of Crédit Agricole S.A.'s Ambitions for 2025.”

This press release comments on the results of Crédit Agricole S.A. and those of Crédit Agricole Group, which comprises the Crédit Agricole S.A. entities and the Crédit Agricole Regional Banks, which own 62.4% of Crédit Agricole S.A. Please see the appendices to this press release for details of specific items, which are restated in the various indicators to calculate underlying income.