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Q3 & 9M-17: excellent performances
Crédit Agricole Group
For the first nine months 2017, net income Group share for Crédit Agricole Group amounted to 5.6 billion euros, an increase of +35.1% versus the first nine months of 2016, which had been affected by significant negative specific items. This stated net income for the first nine months is already higher than the full year 2016 stated net income.
Adjusted for specific items, underlying net income Group share was 5.4 billion euros, an increase of +15.3% versus the first nine months of 2016.
These results reflects strong business momentum in the Group’s various components – retail banks, specialised businesses and the Large customers business line – coupled with tight cost control enabling the Group to invest in new business activities, and particularly in insurance.
The underlying cost/income ratio remained stable at 62.7%. These results include the first-time contribution of Pioneer Investments in the third quarter. During the third quarter, the Group continued to refocus on its core businesses, reducing its holding in Banque Saudi Fransi and signing an agreement to acquire three Italian savings banks and a majority holding in Banca Leonardo.
The financial position remains very strong: at end-September, the fully-loaded Common Equity Tier 1 ratio was 14.9%, among the best in the sector and more than 5 percentage points above the regulatory minimum.
Crédit Agricole S.A.
Strong results in both Q3 and the first nine months:
Continued refocusing: acquisitions in core businesses and asset disposals
Further improvement in financial solidity
More information read on the Group’s site>>
About Credit Agricole:
PJSC «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 bank 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 VIP 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 300 000 active private and 18 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business.
Viktoriia Torianyk, Head of PR and corporate communications Credit Agricole Bank.
Phone: +38 044 581 07 45, e-mail: Viktoriia.Torianyk@credit-agricole.ua