12 of May 2016, Crédit Agricole Group reported net income Group share of €818 million for the first quarter of 2016. Its underlying* net income Group share was €1.2 billion, stable compared with the first quarter of 2015. Crédit Agricole S.A. reported net income Group share of €227 million and €394 million on an underlying basis, down 9.3% compared with the first quarter of 2015. The business lines delivered strong commercial performance in a highly challenging environment. As expected, the first half of 2016 was affected by the non-recurring negative impact of the plan to simplify the Group's capital structure (Eureka plan). The positive impact of this plan will begin to flow through in the third quarter, once the deconsolidation of the Regional Banks is complete. In terms of solvency, the Basel 3 fully-loaded Common Equity Tier 1 ratio was 13.9% for the Group and 10.8% for Crédit Agricole S.A., making the Group one of the best capitalised banks in Europe. Meanwhile, the various projects launched last March as part of the "Strategic Ambition 2020" Medium-Term Plan are progressing on schedule, with consolidation of our leadership positions, increased revenue synergies and cost savings.
*Restated for specific items in the first quarter of 2016
Full version of financial report could be found here
About the Bank:
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 442 000 private and 35 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations.
Viktoriia Torianyk, Head of PR and corporate communications Credit Agricole Bank
Phone: +38 044 581 07 45, email: Viktoriia.Torianyk@credit-agricole.ua