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Credit Agricole SA — Crédit Agricole Covered Bonds — Debt Investor Presentation (January 2009)

19 slides from Credit Agricole SA's debt investor presentation, January 2009

  1. Slide 1: Crédit Agricole Covered Bonds Investor Presentation Update

    Crédit Agricole Covered Bonds Investor Presentation Update January 2009

  2. Slide 2: Disclaimer

    Disclaimer This document has been prepared by Crédit Agricole Covered Bonds (“CACB”) and Crédit Agricole S.A. solely for use in the roadshow presentation held in connection with the proposed bond offering of CACB (the “Offer”). This document is confidential and is not to be reproduced by any person,

  3. Slide 3: Table of Contents

    Table of Contents 1. Crédit Agricole Group Overview (Update) 2. Crédit Agricole Group Funding Strategy (Update) 3. French Home Loan Business (Update) 4. The Cover Pool (Update) 5. Appendix Page 3 Investor Presentation

  4. Slide 4: Section 1: Crédit Agricole Group Overview (Update)

    Section 1: Crédit Agricole Group Overview (Update) Page 4 Investor Presentation

  5. Slide 5: 9 Months 08: Strength of business model confirmed by resilience of results

    9 Months 08: Strength of business model confirmed by resilience of results Crédit Agricole Group 2008-9M Income Statement € mn 2008-9M 2008-Q3 Δ Q3/Q2 % Net banking income 21,095 7,525 +19.1 For the third quarter of 2008, the amendment to IAS 39 allowing for Operating expenses (15,244) (5,108) +1.3

  6. Slide 6: Outstanding financial soundness despite the financial crisis

    Outstanding financial soundness despite the financial crisis  Extremely sound Group capital structure  A high level of net Tier 1 capital: € 49.7bn at end of September 08 (+€ 1.0bn T1 Capital structure compared to 30 June, 2008), with loans outstanding increasing in Q3/Q2 by 2% (as at end of Septe

  7. Slide 7: Section 2: Crédit Agricole Group Funding Strategy (Update)

    Section 2: Crédit Agricole Group Funding Strategy (Update) Page 7 Investor Presentation

  8. Slide 8: Crédit Agricole resilient liquidity position

    Crédit Agricole resilient liquidity position  A comfortable liquidity position  Full completion of the € 34bn 2008 funding programme  Large access to the unsecured market (46% of total funding) Medium to Long Term liquidity raised in 2008  Access to 25% of SFEF issues (French banks Joint State-g

  9. Slide 9: Section 3: French Home Loan Business (Update)

    Section 3: French Home Loan Business (Update) Page 9 Investor Presentation

  10. Slide 10: French Home loan business

    French Home loan business  The French market has slowed down in 2008, especially in Q4-08  Prices have decreased by 9.9% between Dec-07 and Dec-08, less than other European markets  Volume of sales has decreased around 20% in 2008 (30% for new homes)  A further correction of 10-15% in prices is

  11. Slide 11: Section 4: The Cover Pool (Update)

    Section 4: The Cover Pool (Update) Page 11 Investor Presentation

  12. Slide 12: Cover Pool Update

    Cover Pool Update Pool Notional € 6,508,465,287 Number of loans 114,741 Average loan balance € 56,723 WA seasoning 44 months WA remaining term 186 months WA LTV 66.6% Indexed WA LTV 53.5% France only, regional distribution Geographical distribution on the map 100% home loans originated within the Or

  13. Slide 13: Cover Pool Update

    Cover Pool Update No significant change: low LTV, high granularity, seasoning and geographical diversification  The size of the programme (€ 35bn) represents the lowest Geographical diversification of the cover pool proportion of the loans outstanding (€ 224bn) among French issuers , i.e. 16%  100

  14. Slide 14: Cover Pool Update

    Cover Pool Update Rate type distribution  The borrower’s monthly costs are predictable  The proportion of loans with fixed rates to maturity is large: 84% (European average : 42%, French average: 79%)  All floating rates are capped  All loans are secured by Source: Crédit Agricole  A mortgage (

  15. Slide 15: Section 5: Appendix

    Section 5: Appendix Page 15 Investor Presentation

  16. Slide 16: Key figures (Crédit Agricole Group)

    Key figures (Crédit Agricole Group) € bn 2006-FY 2007-H1 2007-9M 2007-FY 2008-H1 * 2008-9M * Net banking income 29.2 16.6 23.8 29.6 13.6 21.1 Gross operating 11.3 6.4 8.8 9.3 3.4 5.9 income Net income, Group 7.1 4.7 6.3 6.0 1.6 2.5 share Total assets 1,380.7 1,516.1* 1,522.7* 1,540.9 1,592.2 1,638.4

  17. Slide 17: Consolidated capital: a very strong equity base (Crédit Agricole Group)

    Consolidated capital: a very strong equity base (Crédit Agricole Group) € bn 2006-FY 2007-H1 2007-9M 2007-FY 2008-H1 2008-9M Equity Group share 58.0 65.0 64.9 64.8 61.0 64.2 Preferred shares 2.9 2.8 2.8 2.7 2.6 2.7 Subordinated debt 22.0 21.9 22.0 22.5 26.4 27.5 Total risk-weighted 523.6 580.7 612.6

  18. Slide 18: 2008 Liquidity coming from the markets

    2008 Liquidity coming from the markets A Regular Issuer 3500 Public deals size (in M€) 5,600 Senior 2y TSS SPPE CASA €5.9Bn €3 Bn €3 Bn 3000 X-notes 13m/5yr capital increase 5,200 $4Bn CAC 40 2500 4,800 Senior Calyon LT2 Senior 2y Senior 5y refocusing plan €2Bn €2Bn 2000 4,400 T1 SFEF 2y X-notes LT2

  19. Slide 19: Contact List

    Contact List Olivier Nicolas +33 1 43 23 34 08 Head of Financial Management Department olivier.nicolas@credit-agricole-sa.fr Claude Grandfils +33 1 43 23 42 20 Deputy Head of ALM Division claude.grandfils@credit-agricole-sa.fr Claude Rosenfeld +33 1 57 72 16 21 Assistant to the Head of the Financial

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