Credit Agricole Sa · EURONEXT:ACA
Credit Agricole Sa — Q2 2021 Earnings Presentation
24 slides from Credit Agricole Sa's earnings presentation, Aug 5, 2021
Slide 1: Working every day in your interest and that of society
WORKING EVERY DAY IN YOUR INTEREST AND THAT OF SOCIETY RESULTS for the 2nd quarter 2021 and 1st half 2021
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 SECOND QUARTER 2021 RESULTS Not surprisingly, results are excellent this quarter and have reached historic levels Building upon its fundamental differences, the Group is at the forefront to respond to the major challenge
Slide 3: Public stimulus measures enabled the economy to rebound
As expected, the public stimulus measures enabled the economy to rebound Group shareholders’ payment amounts (CR + LCL) France – Household and business leaders’ confidence Manufacturing PMI 110 60 LT average 100 55 50 90 45 80 40 70 35 60 30 50 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018
Slide 4: Commercial activity is dynamic in all business lines
Crédit Agricole is no exception, commercial activity is dynamic in all business lines Gross customer acquisition France and Italy Retail banking - Crédit Agricole Group 935 000 905 000 686 000 S1-2019 S1-2020 S1-2021 Loan production(1) (RB and LCL – in billions of New business in property and casual
Slide 5: Excellent results for Crédit Agricole Group
Excellent results for Crédit Agricole Group Q2 2021 H1 2021 Stated Net income €2,770m €4,524m Group share +86.8% Q2/Q2 +89.2% H1/H1 of which CreVal badwill(2): €321 million Specific items €403m and Affrancamento : €116 million(3) €557m Underlying net income €2,367m €3,967m group share +32.6% Q2/Q2 +
Slide 6: Best results since the IPO for Crédit Agricole S.A.
Best results since the IPO for Crédit Agricole S.A. Q2 2021 H1 2021 Stated Net income 1 968 m€ 3 014 m€ Group share x 2,1 T2/T2 +89,3% S1/S1 of which CreVal badwill(2) €285 million Specific items 353 m€ and Affrancamento(3): €111 million 466 m€ Underlying net 1 615 m€ 2 548 m€ income group share +46
Slide 7: The Group's specific strengths
The Group’s specific strengths RESULTATS DU 2E TRIMESTRE ET DU 1ER SEMESTRE 2021 7
Slide 8: Steady revenue growth and operational efficiency
Steady revenue growth Operational efficiency Crédit Agricole S.A. efficiency: improvement of the underlying cost/income ratio excl. SRF: Crédit Agricole S.A. regular underlying quarterly revenue growth for the past 5 years 55.3% (-2.1 pp Q2/Q2) REVENUE : GROWTH Q /Q SINCE 2017 Q1/Q1 Q2/Q2 Q3/Q3 Q4/Q
Slide 9: Continued renewal of organic growth potential
Continued renewal of organic growth potential… RB/LCL/CAI equipment rate in property and casualty insurance(8) Dec. 2018 – June 2021 …supplemented by acquisitions and partnerships that will foster future growth for our universal bank (Lyxor, Creval, Amundi Technologies, Azqore) (1) Market share of U
Slide 10: Profitability and financial strength at the highest European standards
Profitability and financial strength at the highest levels of European standards Underlying RoTE(1) since 2017 14.3% 13.5% 13.6% 13.2% 12.9% 13.0% 12.5% 12.7% 12.3% 11.9% 11.7% 11.7% 11.9% 11.1% 9.7% 9.6% 9.9% 10.0% 9.8% 10.0% 9.2% 9.2% 9.3% 8.8% 8.8% 8.9% 8.7% 8.9% 8.4% 8.0% 8.2% Solvency 17.3% 6.0
Slide 11: A new growth model that respects the environment and brings progress for all
Create the conditions for a new growth model that respects the environment and brings progress for all For a low-carbon economy For the inclusion of young people A plan for the integration of young people: €25 million for employment, solidarity and financial support, major Commitment by the Group th
Slide 12: Sharp rise in results in all business lines
Working every day in the interest of our customers and society Jérôme Grivet SECOND QUARTER 2021 RESULTS Sharp rise in results in all business lines 12 RESULTATS RESULTS FOR 2EMESECOND DUTHE TRIMESTRE QUARTER 1ER SEMESTRE ET DU AND FIRST HALF2021 OF 2021
Slide 13: Regional Banks: sustained commercial momentum and strong income growth
GROUPE CRÉDIT AGRICOLE REGIONAL BANKS Sustained commercial momentum and strong growth in income Underlying data Q2 2021 Growth in outstanding loans and customer +4.1% assets, dynamic customer capture Revenues €3,453 m versus Q2 2020 Loans outstanding: up +6.6% June/June and loans above pre-crisis le
Slide 14: Crédit Agricole S.A. net income Group share
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. Net income Group share Very strong growth of reported and underlying net income, both at a very high level Q2 2021 Stated net income at its highest since 2007 thanks to the impact of badwill linked to the CreVal acquisition Stated 1 968 m€ net income Group x
Slide 15: Revenues and gross operating income up sharply
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. Revenues and gross operating income up sharply, reflecting our support to the economic recovery Underlying data Q2 2021 H1 2021 o Strong revenue growth, thanks to sustained activity in all Revenues €5,829m €11.3bn business lines and a positive market effect
Slide 16: Strong revenue resilience thanks to the universal banking model
CRÉDIT AGRICOLE S.A. REVENUES Crédit Agricole S.A. has regularly generated revenue growth over the past five years Regular underlying quarterly revenue growth over the past 5 years Strong contribution of fee and commission income to revenues Underlying H1 2021 revenues R EVEN U E : GR OWTH Q /Q SI N
Slide 17: Continued improvement of the cost/income ratio
CRÉDIT AGRICOLE S.A. OPERATING EFFICIENCY Continued improvement of the cost/income ratio, positive jaws effect (+10 pp for the last five years) Underlying revenues and costs: positive jaws effect over the last five years Efficiency: improvement of the underlying cost/income ratio excl. SRF: 55.3% (-
Slide 18: Asset quality and cost of risk
GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. ASSET QUALITY AND COST OF RISK Continued increase in the coverage ratio Sharp drop in cost of risk Doubtful Crédit Agricoleloan S.A. ratio (1) Coverage ratio(1) Crédit Agricole S.A. Crédit Agricole Group Crédit Agricole S.A.(1) Crédit Agricole Group(1) 3.2
Slide 19: Solvency: very robust capital position
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP SOLVENCY Very robust capital position Crédit Agricole Group Crédit Agricole S.A. Solvency 17.3% Solvency 12.6% phased-in phased-in CET1 +8.4 pp CET1 +4.7 pp above SREP above SREP requirements(1) requirements(1) Level of CAG and Crédit Agricole S.A. capital
Slide 20: Business lines: Retail banking
CRÉDIT AGRICOLE S.A. BUSINESS LINES Retail banking LCL Crédit Agricole Italia INTERNATIONAL o Recovery of loan production (+33.4% Q2/Q2 o Very positive commercial production, driven o Sustained commercial activity in and +5.8% Q2-21/Q2-19) by all segments; managed deposits(1)(2) up all entities shar
Slide 21: Business lines: Asset gathering
CRÉDIT AGRICOLE S.A. BUSINESS LINES Asset gathering CRÉDIT AGRICOLE ASSURANCES AMUNDI Wealth Management o Savings/retirement: very dynamic net inflows at o Net management revenues +38.9% Q2/Q2 o Increase in €1.6 billion, driven by UL contracts; high UL capitalising on very favourable market outstand
Slide 22: Business lines: Large customers
CRÉDIT AGRICOLE S.A. BUSINESS LINES Large customers CACIB CACEIS o Financing activities: recovery of structured financing o KAS Bank integration finalised activity (+6.4% Q2/Q2), leading positions in syndicated loans No.1 – Syndicated Loans in France(1) No.2 – o Slight erosion of net income Group sh
Slide 23: Business lines: Specialised financial services
CRÉDIT AGRICOLE S.A. BUSINESS LINES Specialised financial services CA Consumer Finance CAL&F o Strong growth in commercial production (+63% Q2/Q2(1)), o Strong recovery in new lease financing(3) (+65% Q2/Q2) and revenues at Q2-2019 level, driven by all segments (France, automotive partnerships, inte
Slide 24: Résultats du 2ème trimestre et du 1er semestre 2021
24 RESULTATS DU 2EME TRIMESTRE ET DU 1ER SEMESTRE 2021