Crédit Agricole Bank reporting positive net result of 1.1 bUAH during 9 months 2021

Robust commercial activity, sharp rise in earnings, high levels of profitability: Net Result of Credit Agricole Ukraine reached 1.1bUAH as of 9 month 2021, based on growth of banking income 5^th quarter in a row.

“In September Credit Agricole Ukraine presented its AIR 2025 Strategy, which is called «AIR» for Ambitious, Innovative and Responsible. 2021 is the first year of the AIR Strategy & results of first 9 month is the best way of starting this adventure. Great future is in the AIR!” - Giorgio Sopranzi, Financial Director of Crédit Agricole Bank commented.

Credit Agricole Bank’s strategy of accompanying & supporting Ukrainian economy is enabling a rebound in customer activity, despite uncertainty about the pace of exit from the crisis. The economic indicators show that customer activity returns to pre-crisis levels each time restrictions are lifted. So, Credit Agricole Bank’s loans production has returned to the pre-crisis level, each of the business lines posted very strong levels of activity: Legal Entities (+27%) and Private Individuals (+17%) in comparison with Dec-20. This growth reflects the excellent recovery in Consumer Finance, sharply development in Leasing and success in commitments of carbon footprint reduction by increasing renewable green energy financing projects. Responsible attitude to society and the environment is the basis of Credit Agricole Bank development!

Credit Agricole Bank's Deposits portfolio showed a significant growth by +11% in comparison with Dec-20 & +17% vs Sep-20, which were supported by all business segments. In our challenging environment, such trend confirms satisfaction of our customers and confidence in future of Credit Agricole Bank.

Credit Agricole Bank has been able to support its customers and Ukrainian economy to recover after the crisis thanks to its sound liquidity & capital position. LCR remains at high level of 158% vs 100% minimum, NSFR at 134% vs 90%, as well Capital ratios: N2 at 16.0%, sufficiently higher then regulatory minimal level.

As of 9M-21 Crédit Agricole Bank reported 1.1 bUAH of Net Result (+59% on YoY basis) for a Return on Equity of 23%. Net banking Income increased to 2.9 bUAH, with a strong development compared to the same period of previous year (+15%), thanks to the growth in Net interest & Fees income, which partially compensated the reduction on Other NBI.

The NII over-performance was driven by the sustained activity across all business lines. Commissions Income grew for 3 quarter in a row, YoY increase amounted at +18% on services and digital transactions development, driven by the new mobile application CA+ (the number of registered users reached the level of 149ths now).

Credit Agricole Bank maintained its commitment for excellent operational efficiency level, thus costs were kept under strict control despite the strong impact of inflation (as of 9 month OPEX increased by +5%). This corresponded to the Cost-to-Income Ratio YoY improvement by -5% to 48%.

The Cost of Risk dropped by -49% YoY to a low level of -190 mUAH, reflecting the effectiveness of the economic support measures. Bank's risk profile remains strong and one of the best in the market (NPL ratio <2% is one of the lowest among Ukrainian banks with a coverage ratio – included collective provisions >200%), thanks to Credit Agricole Ukraine cautious approach to provisioning.

Annex 1

Summary Income Statement*

(UAH million)

Annex 2 

Short Balance Sheet*

(UAH million)

About Credit Agricole:

JSC «Credit Agricole Bank» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of ban insurance and third - in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including premium-clients, and business. The bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of Credit Agricole in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 280 000 active private and 17 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business. Credit Agricole Bank is a socially responsible bank that confirms its status by the large number of projects implemented under the Corporate Social Responsibility program «We Care!». 

Contacts:

PR and corporate communications division of Credit Agricole Bank.

E-mail: Communications@credit-agricole.ua

* Credit Agricole Bank’s Interim Financial Statements are elaborated according to IFRS. Additionally, the detailed quarterly financial statements will be published on the bank's website.