Results for the 1th quarter 2021 of Credit Agricole Group

The Crédit Agricole Group achieved a solid performance and good-quality results worldwide in the first quarter of 2021. Underlying net income Group share^[1] for the first quarter stood at €1.6 billion, while that of Crédit Agricole S.A. stood at €932 million. Both recorded exceptional increases of +63.0% and +43.1%, respectively, compared to the first quarter of 2020.

The capital position is also very strong, with solvency ratios well above regulatory requirements. At 31 March, the phased-in Common Equity Tier 1 (CET1) ratio stood at 17.3% for the Group and 12.7% for Crédit Agricole S.A.

The Group is significantly strengthening its positions via two transactions that will create value, namely the proposed acquisition of Lyxor by Amundi, seeking to reinforce its position as a European leader, and the successful Creval takeover bid, which will enable Crédit Agricole Italy to strengthen its market share in the north of the country.

Employees strive to support customers

This first-quarter performance is the result of the exceptional commitment that teams have shown to supporting all our customers, with a strong increase in activity across all business lines against a backdrop of ongoing restrictions. Customer capture is strong (+469,000 customers in France in the first quarter – 338,000 of them in Regional Banks), while outstanding loans and customer assets are rising sharply. Revenues are also rising sharply in asset management, insurance, retail banking and large customers.

The entire Group has been working to protect the economy during the crisis. In particular, in France it processed €32.3 billion in SGLs for 220,000 customers (€2.9 billion in SGLs for 40,000 customers in Italy) and granted moratoria to 552,000 customers.

A Group determined to support the recovery

The Group is working to support the economy’s recovery, in the face of renewed international competition, with an offensive plan for the distribution of Equity Recovery Loans: 900 corporate account managers have been mobilized; 45,000 SME and mid-cap customers of the Regional Banks and 8,500 LCL customers have been contacted. Furthermore, Crédit Agricole Assurances is the leading contributor among insurers, with €2.25 billion.

A Group that upholds its commitments to societal transformation

Having been the first bank to commit to a total withdrawal from thermal coal, the Group is now the No. 1 private financier and No. 1 institutional investor in renewable energy in France. In 2020, it also became the first bank to launch an ESG^[2] reporting platform, notably with a view to measuring the mix of its energy exposures. The Group is now ready for generalized impact management.

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[1] Excluding specific items

[2] Environmental, Social and Governance

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:

Viktoriia Torianyk, Head of PR and internal communications division of Credit Agricole Bank.

E-mail: Viktoriia.TORIANYK@credit-agricole.ua