Credit Agricole Sa · EURONEXT:ACA
Credit Agricole Sa — Q1 2021 Earnings Presentation
22 slides from Credit Agricole Sa's earnings presentation, May 7, 2021
Slide 1: First Quarter 2021 Results
RESULTS FIRST QUARTER 2021 RESULTS
Slide 2: Strong activity, solid results
Working every day in the interest of our customers and society Philippe Brassac FIRST quarter 2021 results STRONG ACTIVITY, SOLID RESULTS Q1 performance is the result of the teams’ exceptional commitment to support all customers 2
Slide 3: The Group's teams delivered a solid performance
GROUPE CRÉDIT AGRICOLE THE GROUP’S TEAMS AROUND THE WORLD DELIVERED A SOLID PERFORMANCE Crédit Agricole Group key figures Q1 2021 Stated Net income €1,754 m Group share +93.2% Q1/Q1(1) Specific items €154 m Cost/income 60.6% ratio(2) Underlying net €1,599 m -4.8 pp Q1/Q1 income group share +63.0% Q1
Slide 4: Crédit Agricole S.A. key figures
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. key figures Q1 2021 Stated Net income €1,045m Group share +63.9% Q1/Q1 Cost/income 58.0% ratio (1) -4.2 pp Q1/Q1 Specific items €113m Underlying net €932m Solvency 12.7% income group share +43.1% Q1/Q1 Phased-in CET1 +4.8 pp>SREP Underlying €5,508m Revenues
Slide 5: The Group is significantly strengthening its positions
CRÉDIT AGRICOLE S.A. THE GROUP IS SIGNIFICANTLY STRENGTHENING ITS POSITIONS Main ETF/ETP players in Europe AuM in €bn at 31/12/2020 Market share Amundi is strengthening its position as European BlackRock 463 44% leader with the planned acquisition of Lyxor Amundi + No. 2 142 14% Lyxor • Building a s
Slide 6: The Group is mobilised to protect the economy during the crisis
GROUPE CRÉDIT AGRICOLE THE GROUP IS MOBILISED TO PROTECT THE ECONOMY DURING THE CRISIS State-guaranteed loans (SGLs) MORATORIA France: France: • 27% of SGLs requested in France • 552,000 repayment holidays, €4.2 bn in • €32.3 bn(1) of SGLs requested deferred maturities • 220,000 customers • Resumpti
Slide 7: The Group is determined to support the recovery
GROUPE CRÉDIT AGRICOLE THE GROUP IS DETERMINED TO SUPPORT THE RECOVERY, IN A CONTEXT OF ECONOMIC UPTURN AND RENEWED INTERNATIONAL COMPETITION Growth forecasts (real GDP(1)) 7.3 5.4 5.1 5.4 3.8 4.0 3.9 4.1 3.8 3.6 -1.0 -3.5 -6.8 -8.2 France Italy Euro zone USA Asia (excl. Japan) -8.9 2020 2021 2022 A
Slide 8: Confidence as a fuel for the recovery
GROUPE CRÉDIT AGRICOLE CONFIDENCE AS A FUEL FOR THE RECOVERY No “wall of debt” Net debt of non-financial companies • +3.6% between 2019 and 2020 • A less clear-cut end to the health crisis than hoped… • …Despite this, among our customers who have taken out an SGL, 18.9% want to repay it in the first
Slide 9: The Group fulfils its commitments to societal transformation
GROUPE CRÉDIT AGRICOLE THE GROUP FULFILLS ITS COMMITMENTS TO SOCIETAL TRANSFORMATION ESG ambitions are the heart of Customer Relations 1st bank to launch an ESG platform Launch of the Climate Transition Rating: a dialogue tool with our 1st bank to commit to a total customers, to enable Corporates to
Slide 10: Human capital at the heart of the Group project
GROUPE CRÉDIT AGRICOLE HUMAN CAPITAL AT THE HEART OF THE GROUP PROJECT Empowering people locally, a must-have An ambitious HR policy Digitalisation enhanced, augmented and secured by local • No. 1 private employer in France (Challenges 25/03/2021) and in empowerment. the Top 3 companies that recruit
Slide 11: First quarter 2021 results
Working every day in the interest of our customers and society Jérôme Grivet FIRST QUARTER 2021 RESULTS Solid results supported by a very good level of activity in all business lines in an environment still marked by restrictions 11
Slide 12: Focus on organic growth: strong increase in activity
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP BUSINESS Focus on organic growth: strong increase in activity in a Q1-2021 still marked by restrictions, thanks to the solidity and efficiency of the Universal Customer-focused Banking model Retail banking gross customer acquisition – Crédit Agricole Group
Slide 13: Regional Banks: sustained commercial momentum and strong growth in results
GROUPE CRÉDIT AGRICOLE Regional Banks: Sustained commercial momentum and strong growth in results Underlying data Dynamic commercial activity Q1 - 2021 compared to pre-crisis Q1-2020 +9.9% Customer capture: +338,000 new customers; Revenues €3,554 m versus Q1 2020 continued increase in the share of u
Slide 14: Crédit Agricole S.A.: dynamic activity, low cost of risk
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. : Dynamic activity in all business lines, low cost of risk Underlying data Regular revenue generation for 5 years Q1 - 2021 +7.2% Revenues €5,508 m versus Q1 2020 Non-SRF -0.00% -€3,193 m expenses(1) versus Q1 2020 Sharp rise in revenues in asset management,
Slide 15: Asset quality risks
GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. ASSET QUALITY RISKS NPL ratio (1) Coverage ratio(1) Cost of risk Crédit Agricole S.A. Crédit Agricole Group Crédit Agricole S.A.(1) Crédit Agricole Group(1) Crédit Agricole S.A. 2.3% 84.4% 56 bp / 37 bp 3.2% Of which 1.7% for the 72.0% Of which 101.2% for
Slide 16: Very strong capital position
CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP VERY STRONG CAPITAL POSITION Solvency Crédit Agricole Group Crédit Agricole S.A. Phased-in 17.3% Phased-in 12.7% CET1 CET1 solvency +8.4 pp solvency +4.8 pp above the SREP(1) above the SREP(1) o Capital level well above CAG and CASA regulatory recommendatio
Slide 17: Business lines: Retail banking
CRÉDIT AGRICOLE S.A. BUSINESS LINES Retail banking LCL CRÉDIT AGRICOLE ITALY INTERNATIONAL o Outstanding loans excluding SGLs up +3.4% o Outstanding loans : strong sales o Liquidity: net surplus of March/March, driven by professionals momentum, especially for home loans deposits over loans +€2.9 bn
Slide 18: Business lines: Asset gathering and insurance
CRÉDIT AGRICOLE S.A. BUSINESS LINES Asset Gathering and Insurance CRÉDIT AGRICOLE ASSURANCES AMUNDI Wealth management o Sustained commercial activity: net inflows at o Record level of performance fee and o Assets under €1.7 bn (x2,2 Q1/Q1), increase in customer commission income €111 m management up
Slide 19: Business lines: Large customers
CRÉDIT AGRICOLE S.A. BUSINESS LINES Large customers CACIB CACEIS o Balanced business model, maintenance of leading o Dynamic growth in retained AuM to €4.3 tn +17% positions: vs. Mar-20 No. 2 syndicated loans in France No. 4 EMEA o Net income Group share +21.6% excl. SRF, thanks No. 3 in Global Proj
Slide 20: Business lines: Specialised financial services
CRÉDIT AGRICOLE S.A. BUSINESS LINES Specialised financial services CA Consumer Finance CAL&F o Increase in commercial production +4.2% Q1/Q1, especially o Leasing: production stable, AuM up +4.2% March/March in China with GAC Sofinco +40.6% Q1/Q1 and in France +5.9% Q1/Q1 o Factoring: very good quar
Slide 21: Key figures
GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. KEY FIGURES Crédit Agricole S.A. Stated Net €1,045 m Underlying net €932 m Cost/income 58.0% income group ratio income Group share share +63.9% Q1/Q1 Underlying -4.2 pp Q1/Q1 +43.1% Q1/Q1 Excl. SRF Crédit Agricole Group Stated Net €1,754 m 17.3 % income Gr
Slide 22: Q&A session
Q&A SESSION Results FIRST QUARTER 2021 RESULTS WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY 22