Credit Agricole Sa · EURONEXT:ACA
Credit Agricole Sa — Q3 2024 Earnings Presentation
23 slides from Credit Agricole Sa's earnings presentation, Nov 6, 2024
Slide 1: Results for the 3rd Quarter and First 9 Months of 2024
RESULTS FOR THE 3RD QUARTER AND FOR THE FIRST 9 MONTHS OF 2024 WORKING EVERY DAY IN YOUR INTEREST AND FOR SOCIETY
Slide 2: Working every day in the interest of our customers and society
Working every day in the interest of our customers and society Philippe Brassac RESULTS FOR THE 3RD QUARTER AND FOR THE FIRST 9 MONTHS OF 2024 2 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS
Slide 3: Strong 9-Month Results Confirming the 2024 Trajectory
STRONG 9-MONTH RESULTS CONFIRMING THE 2024 TRAJECTORY Stated Outlook for 2024 results net income Group share a year ahead of the Ambitions 2025 MTP Crédit Agricole Group Underlying net income Group share of Crédit Agricole S.A. vs MTP target €6.5bn €bn unchanged 9M/9M >€6bn >€6bn €5.4bn >€5bn Stated
Slide 4: A Very Good Quarter
A VERY GOOD QUARTER • Strong quarterly results driven by high revenues • Cost/Income ratio maintained at a low level • High RoTE • Solid capital and liquidity positions Crédit Agricole S.A. Crédit Agricole S.A. Crédit Agricole S.A. Crédit Agricole S.A. €1.7bn Growth of +8.2% Q3/Q3 in 54.4% 14.5% 11.
Slide 5: Steady Growth in Quarterly Revenues
STEADY GROWTH IN QUARTERLY REVENUES +7% 6.5 6.1 5.5 5.6 5.1 5.1 4.8 4.6 Q3- 17 Q3-18 Q3-19 Q3-20 Q3-21 Q3-22 Q3-23 Q3-24 Underlying revenues of Crédit Agricole S.A.(in €bn)(1) RB: +0.7 pp; 43.8% €2,809bn €876bn Partnerships and acquisitions +13.1% Q3/Q3 Unchanged 482,000 LCL: +0.3 pp; 27.9% Assets u
Slide 6: Jérôme Grivet
Working every day in the interest of our customers and society Jérôme Grivet RESULTS FOR THE 3RD QUARTER AND FOR THE FIRST 9 MONTHS OF 2024 6 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS
Slide 7: Strong Activity in All Business Lines
ACTIVITY STRONG ACTIVITY IN ALL BUSINESS LINES Change Sept. 24/Sept. 23 New customers +482,000 gross (Q3-24) +104,000 net Solid performance in retail banking and consumer On-balance finance sheet deposits in France (RB + LCL): 766 (+3.1%) Italy: 64 (-0.4%) • Very good customer acquisition retail ban
Slide 8: High Level of Net Income
CRÉDIT AGRICOLE GROUP NET INCOME HIGH LEVEL OF NET INCOME 9M/9M change in net income by business line (€m) By income statement line (€m) Stated +7.2% GOI 9M/9M Base effect from Prov. base Prov. base effects reorganisation effect EL - EL -€78m and of the mobility €171m Cheque Image activities - Excha
Slide 9: High Level of Revenues, Up Sharply in Underlying
CRÉDIT AGRICOLE S.A. REVENUES HIGH LEVEL OF REVENUES, UP SHARPLY IN UNDERLYING Q3/Q3 change in revenues, by business line (€m) Q3 underlying revenues (€bn) +2.3% +7.0% +€144m +€425m Steady increase since 2017 +166 +214 6,487 6,484 6,343 (14) (36) 6.5 Q3 (187) 6,060 6.1 Revenues CAPFM: driven by all
Slide 10: Support for Business Development, Low Cost/Income Ratio at 54.4%
CRÉDIT AGRICOLE S.A. EXPENSES SUPPORT FOR BUSINESS DEVELOPMENT, LOW COST/INCOME RATIO AT 54.4% Q3/Q3 change in expenses by business line (€m) Breakdown of change by type (€m) +9.2% +8.2% +€312m +€278m +34 +14 3,689 3,654 +101 +13 +150 3,376 3,376 +4,1% +4.1% France: increase Recurring +€141m +141 m€
Slide 11: Very Good Quarterly Results
CRÉDIT AGRICOLE S.A. NET INCOME VERY GOOD QUARTERLY RESULTS Q3/Q3 change in net income Group share by business line (€m) By income statement line (€m) GOI excluding +4.2% Net income +8.2% -4.7% +10.9% prov. base effect +€114m Group share +€126m -€81m +€165m EL excl. prov. base +426 effect EL +106 +3
Slide 12: Very Strong Capital and Liquidity Positions
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. FINANCIAL STRENGTH VERY STRONG CAPITAL AND LIQUIDITY POSITIONS Level of capital Liquidity profile CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. Liquidity reserves €466bn -2.5% Sept./June CET1 17.4% 11.7% +0.1 pp vs Q1 +0.1 pp vs Q1 +7.6 pp vs SREP +3.1 pp vs S
Slide 13: Philippe Brassac
Agir chaque jour dans l’intérêt de nos clients et de la société Philippe Brassac RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2024 13 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS
Slide 14: Dual Growth Potential
DUAL GROWTH POTENTIAL Retail clustomers’ market 14 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS
Slide 15: Mobilisation of the Group for All of Its Customers
MOBILISATION OF THE GROUP FOR ALL OF ITS CUSTOMERS → Emergency measures for the insured (24/7 assistance services, extended limitation period, Adverse weather compensation for damage caused by flooding even in the absence of a natural disaster declaration (Storm Kirk and Storm Leslie) etc.) → Agri-V
Slide 16: Group Actions in Support of Transitions
GROUP ACTIONS IN SUPPORT OF TRANSITIONS → Large-scale financing of the solarisation of tertiary and industrial sites (1st operation of 18 photovoltaic plants) – with EDF ENR Equipping all of → Roll-out of electric vehicle charging solutions across the territory with EDF society → Supporting corporat
Slide 17: Third Quarter and First Nine Months 2024 Results
17 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS
Slide 18: Key Figures
KEY FIGURES CRÉDIT AGRICOLE GROUP FIRST NINE MONTHS 3RD QUARTER 2024 CRÉDIT AGRICOLE S.A. FIRST NINE MONTHS 3RD QUARTER 2024 OF 2024 OF 2024 Net income Group Net income Group share €6,491m €2,080m share €5,397m €1,666m -0.6% 9M/9M -12.8% Q3/Q3 +7.6% 9M/9M -4.7% Q3/Q3 stated stated Revenues €28,244m
Slide 19: Retail Banking
RETAIL BANKING Regional banks LCL Italy Egypt, Poland and Ukraine • Customer capture: +275k new • Customer capture: +76k new • Customer capture: +43k new • Loans outstanding: +6.7% year on customers in Q3-24 customers in Q3-24 customers in Q3-24 year, at constant exchange rates • Loan outstandings:
Slide 20: Asset Gathering
ASSET GATHERING Insurance Asset management Wealth management • Savings/retirement: strong momentum in gross • Record level of assets under management, • Degroof Petercam: Start of funds being marketed inflows at €7.2bn (+56% Q3/Q3), unit-linked share €2,192 bn (+11% Sept./Sept.) to Indosuez customer
Slide 21: Large Customers
LARGE CUSTOMERS Corporate and investment banking Asset servicing • Capital markets and investment banking: up +9.0% Q3/Q3 on an • Assets under custody and under administration rose sharply over the year underlying basis, with a high level of revenues maintained in capital markets as a whole, benefit
Slide 22: Specialised Financial Services
SPECIALISED FINANCIAL SERVICES Personal Finance and Mobility Leasing and factoring • Production unchanged Q3/Q3 at €11.6 billion; automotive financing • Leasing: production +13.6% Q3/Q3, up across all business lines. Sustained representing 50.6% of total production production for property leasing an
Slide 23: Third Quarter and First Nine Months 2024 Results
23 THIRD QUARTER AND FIRST NINE MONTHS 2024 RESULTS