Credit Agricole Sa · EURONEXT:ACA

Credit Agricole Sa — Q2 2022 Earnings Presentation

22 slides from Credit Agricole Sa's earnings presentation, Aug 4, 2022

  1. Slide 1: Working every day in the interest of our customers and society

    WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY RESULTS SECOND QUARTER AND FIRST HALF 2022

  2. Slide 2: Philippe Brassac: Second quarter 2022 results

    Working every day in the interest of our customers and society Philippe Brassac SECOND QUARTER 2022 RESULTS « In an opaque and uncertain environment, the Group continues to grow steadily, thanks to its universal customer-focused banking model. » 2 SECOND QUARTER AND FIRST HALF 2022 RESULTS

  3. Slide 3: Crédit Agricole S.A. key figures

    CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. Key figures Q2 2022 H1 2022 Underlying Revenues €6,188m €12,116m +6.2% Q2/Q2 +6.9% H1/H1 Operating expenses -€3,388m -€6,887m Cost/income excl. SRF +5.2% Q2/Q2 +7.4% H1/H1 ratio(1) 54.8% -0.5 pp Q2/Q2 Gross operating income €2,789m €4,582m i.e., in the MTP t

  4. Slide 4: Crédit Agricole Group key figures

    CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE GROUP Key figures Q2 2022 H1 2022 Underlying Revenues €9,636m €19,237m +3.7% Q2/Q2 +4.7% H1/H1 Operating expenses -€5,824m -€11,716m Cost/income 60.4% excluding SRF +5.8% Q2/Q2 +6.5% H1/H1 ratio(1) +1.2 pp Q2/Q2 Gross operating income €3,805m €6,719m i.e., in th

  5. Slide 5: Group continues to grow steadily with universal customer-focused banking model

    CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. In an opaque and uncertain environment, the Group continues to grow steadily, thanks to its universal customer-focused banking model 488,000 1 million new customers new customers(1) in Q2(1) since the start of 2022 CA #1 in home loans in +8.4% France(3) loa

  6. Slide 6: Steady revenue growth

    CRÉDIT AGRICOLE S.A. Steady revenue growth REVENUE Growth : GROWTH of underlying quarterly Q /Q SINCE revenues since2017 2017 (in €m) Q1 Q2 Q3 Q4 6,188 5,929 5,829 5,779 5,508 5,535 5,185 5,179 5,299 5,184 4,903 5,137 5,146 5,073 5,143 4,900 4,834 4,810 4,814 4,779 4,619 4,564 • Revenue growth +€359

  7. Slide 7: One of the strongest capital positions in Europe

    CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. One of the strongest capital positions in Europe Crédit Agricole Group Crédit Agricole S.A. 17.5% 11.3% Solvency Solvency (Phased-in CET1) +8.6 pp vs. (Phased-in CET1) +3.4 pp vs. SREP i.e., in the MTP target SREP 7 SECOND QUARTER AND FIRST HALF 2022 RESULT

  8. Slide 8: A French financing model that bears interest rate risk

    A French financing model that bears interest rate risk: a dual benefit for customers • When rates decreased over the 2015-2021 period: €180bn outstanding home loans refinanced: the equivalent of €13bn in purchasing power for households • When rates increased: A lending model using fixed rates to pro

  9. Slide 9: Results that commit us to act

    Results that commit us to act Support to customers and the economy Support in societal issues • No. 1 lender to the French economy(1) • No. 1 private provider of renewable energy financing in France(3) • No. 1 contributor to French tax and social security • Commitments to cut 30% of absolute finance

  10. Slide 10: Jérôme Grivet: Second quarter 2022 results

    Working every day in the interest of our customers and society Jérôme Grivet SECOND QUARTER 2022 RESULTS • Sharp rise in Crédit Agricole S.A. net income thanks to robust activity in all business lines • Strong capital position 10 SECOND QUARTER AND FIRST HALF 2022 RESULTS

  11. Slide 11: Regional Banks: robust activity, growth in stated net incomes

    CRÉDIT AGRICOLE GROUP REGIONAL BANKS Robust activity, growth in stated net incomes Customer assets +2.7% Q2 2022 H1 2022 ∆ Jun./Jun. 815.9 839.5 838.3 Underlying data 274.4 280.8 285.6 (2.3%) Revenues €3,403m €7,019m -1.5% Q2/Q2 +0.2% H1/H1 535.2 554.0 563.9 +5.4% Expenses -€2,359m -€4,685m excl. SR

  12. Slide 12: Sharp rise in earnings due to higher gross operating income and improved cost of risk

    CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. RESULTS Sharp rise in earnings due to higher gross operating income and improved cost of risk Change in underlying net income Group share Q2 2022 H1 2022 Underlying data Q2/Q2 Revenues €6,188m €12,116m +6.2% Q2/Q2 +6.9% H1/H1 Expenses excl. SRF -€3,388m -€6,

  13. Slide 13: Strong revenue growth thanks to robust activity across all divisions

    CRÉDIT AGRICOLE S.A. REVENUES Strong revenue growth thanks to robust activity across all divisions Change in underlying revenues Steady growth in quarterly revenues for the past 5 years, thanks to the diversified business REVENUE : GROWTH mix Q /Q (in2017 SINCE €m) Q2/Q2 Q1 Q2 Q3 Q4 6,188 5,929 5,82

  14. Slide 14: Positive jaws Q2/Q2

    CRÉDIT AGRICOLE S.A. EXPENSES Positive jaws Q2/Q2 Change in underlying expenses excl. SRF Controlled increase in expenses, +€58m, +1.8% Q2/Q2 excl. scope and foreign exchange effects Q2/Q2  Increase Q2/Q2 +€167m, +5.2%  Excluding Creval and Lyxor scope effect(1) +€88m, +2.7%  Excluding scope and

  15. Slide 15: Improved cost/income ratio

    CRÉDIT AGRICOLE S.A. OPERATIONAL EFFICIENCY Improved cost/income ratio Underlying cost/income ratio excl. SRF 62.8% 62.1% 61.0% 59.6% 57.8% 56.8% Cost / Income ratio exl. SRF MTP target Objectif < 60% PMT <60% 12m-17 12m-18 12m-19 12m-20 12m-21 6m-22 Cost/income ratio excl. SRF: 54.8% Q2, 56.8% H1 l

  16. Slide 16: Risk: increase in loan loss reserves on performing loans

    GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. RISK Increase in loan loss reserves on performing loans Crédit Agricole Group – Loan loss reserves (in €bn) Low cost of risk Crédit Agricole S.A. 19.0 19.5 20.1 19.9 19.6 19.7 20.3 20.4 18.9 (1) 18.9 19.5 29 bps / 17 bps (3) (4) CoR/outstandings CoR/outsta

  17. Slide 17: Asset gathering & Insurance

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Asset gathering & Insurance Crédit Agricole Assurances Amundi Wealth management • Savings/Retirement: positive Q2 net inflows +€1.3bn, UL • €1,925bn assets under management • Buoyant net inflows +€2.8bn rate in gross inflows 40.9% • Positive net inflows (+€1.8bn)

  18. Slide 18: Large Customers

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Large Customers Crédit Agricole CIB CACEIS • Record activity in financing activities and capital markets, revenues +22.0% • Assets : assets under custody €4.1trn, assets under administration Q2/Q2, +16.7% excluding foreign exchange impact €2.2trn • Financing activ

  19. Slide 19: Specialised financial services

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Specialised financial services CA CF CAL&F • Robust commercial production: +9.0% Q2/Q2, of which +6.7% Q2/Q2 • Commercial factoring production +16.4% Q2/Q2 boosted by international automotive JVs production despite shortages on this market activity • Increase in g

  20. Slide 20: Retail banking

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Retail banking LCL Crédit Agricole Italia International • Gross customer capture +84,000 new customers in Q2 • Gross customer capture +45,700 new customers in Q2 • Strong growth in commercial activity in Poland and Egypt, led by loans(4): +13% • Loan production +3

  21. Slide 21: On track with our 2025 Ambitions MTP

    CRÉDIT AGRICOLE S.A. 2025 AMBITIONS We are naturally on-track with our “2025 Ambitions” MTP H1 Targets 2022 targets 2022 2025 Net income > €5bn €2.7bn > €6bn RoTE > 11% 13.9% > 12% Cost/income < 60% 56.8% < 60%(1) ratio excl. SRF CET1 target 11% 11.3% 11%(2) 50% €0.38 dividend 50% Payout ratio accru

  22. Slide 22: GE creoiracricoue SA [croure cxéprr acricote

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