In an opaque and uncertain environment, the Group continues to see steady growth momentum, driven by its universal customer-focused banking model. The Group published its second-quarter and first-half 2022 results this morning, showing strong momentum in all business lines.
Sustained commercial activity
The Crédit Agricole Group recorded a good second quarter. Production was up for home loans (+2.1% Q2/Q2), consumer finance (+9.0%) and corporate loans (+19.8%), with a good momentum in corporate and investment banking as well.
The group recorded 488,000 new customers in retail banking, bringing the total to more than a million new customers over the first half of the year.
The Group’s underlying revenues (€9.6bn) were up +3.7% on the second quarter of 2021. For Crédit Agricole S.A., revenues came in at €6.2bn, up +6.2%. Crédit Agricole S.A. has posted steady year-on-year growth in its quarterly underlying revenues since 2017 (+6.2% Q2/Q2), thanks to its diversified activities.
Underlying gross operating income for second quarter 2022 was up, for both the Crédit Agricole Group (+0.7% year on year) and Crédit Agricole S.A. (+7.4%), which benefited from a positive jaws effect during the quarter, as expenses increased at a slower pace than revenues.
Underlying net income Group share stood at €2.5 bn for the Crédit Agricole Group, up +3.4% compared to the second quarter of 2021. Crédit Agricole S.A.’s underlying income was €1.9 bn, up +18.1%.
A strong capital position
The Group’s solvency is among the best in Europe for the sector, well above regulatory requirements, with a phased-in Common Equity Tier 1 (CET1) ratio of 17.5% for the Group and of 11.3% for Crédit Agricole S.A. as at 30 June.
Crédit Agricole S.A. is in line with its “2025 Ambitions” MTP announced on 22 June. Its underlying RoTE of 13.9% for H1 is 3 pp higher than the average for the 10 largest European banks. Underlying earnings per share works out at €0.60 for Q2 2022, up 16.5% vs. Q2 2021.
Performances backing the Group’s commitment
The solid results of the Crédit Agricole Group, the No. 1 provider of financing to the French economy and the No. 1 contributor to French tax and society, strengthen its ability to fulfil its commitments locally in the regions and to take action for the future.
All employees and elected representatives of the Group have been working to support our customers, especially those who are most vulnerable in the current context.
Learn more about financial results falling the link https://pressroom.credit-agricole.com/news/results-for-the-second-quarter-2022-cb26-94727.html
 Return on Tangible Equity