Credit Agricole Sa · EURONEXT:ACA
Credit Agricole Sa — Q4 2024 Earnings Presentation
25 slides from Credit Agricole Sa's earnings presentation, Feb 5, 2025
Slide 1: Results for the 4th Quarter and Full Year 2024
RESULTS FOR THE 4TH QUARTER AND FULL YEAR 2024 WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND 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 Dominique Lefebvre RESULTS FOR THE 4TH QUARTER AND FULL YEAR 2024 2 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
Slide 3: 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 4TH QUARTER AND FULL YEAR 2024 3 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
Slide 4: Excellent Q4 and full year 2024 results
EXCELLENT Q4 AND FULL YEAR 2024 RESULTS CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. Net income group Net income group Revenues Revenues share share 4TH QUARTER 2024 €2.1bn €9.8bn €1.7bn €7.1bn STATED +11.9% Q4/Q4 +17.4% Q4/Q4 +24.6% Q4/Q4 +26.6% Q4/Q4 Net income group Net income group Revenues Revenu
Slide 5: All targets of the strategic plan exceeded a year in advance
ALL TARGETS OF THE STRATEGIC PLAN EXCEEDED A YEAR IN ADVANCE 2025 Targets 2024 Underlying net income Group share of Crédit Agricole S.A. vs MTP targets Underlying net income Group > €6bn ✓ €7.2bn €bn share ✓ Underlying ROTE > 12.0% 14.0% 7.2 >6 ✓ Underlying C/I ratio excl. SRF < 58.0% 54.4% >5 5.4 C
Slide 6: A continuous dynamic of growth and performance
A CONTINUOUS DYNAMIC OF GROWTH AND PERFORMANCE Steady and dynamic growth in revenues Continued improvement in operating efficiency (in €bn)(1) -15 pp 69.4% 27.2 27 151 +5.6% 64.9% AAGR 24.6 24 563 23.7 23 733 MTP target 62.8% 22.7 22 651 62.1% 61.0% <58% 20.8 59.6% 20.3 20 764 58.2% 20 339 57.8% 19.
Slide 7: A unique development model, the cement of Group unity
A UNIQUE DEVELOPMENT MODEL… THE CEMENT OF GROUP UNITY Leading and consolidating business lines Universal customer-focused banking in Europe Universal customer-focused banking in France 7 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
Slide 8: Dual growth potential (1/2)
DUAL GROWTH POTENTIAL (1/2) ORGANIC GROWTH POTENTIAL 30% 28% 27% Retail sector Retail sector Equipment 23% Unlimited scope of services RB: +0.8 pp; 43.9% €880bn €2,867bn 1,900,000 LCL: +0.4 pp; 27.9% stable +12.1% new customers CA Italia: +1.2 pp; 20.0% Retail banking loans Assets under management i
Slide 9: Dual growth potential (2/2)
DUAL GROWTH POTENTIAL (2/2) Business lines serving retail banks AND acting as consolidators within their sector Recent partnerships 2022-2024 Recent acquisitions and equity investments Consolidation of business lines and European activities of RBC Investor Services strengthening of expertise in Buyo
Slide 10: 3/4 of earnings retained for the service of the economy
CRÉDIT AGRICOLE GROUP 3/4 OF EARNINGS RETAINED FOR THE SERVICE OF THE ECONOMY €38.1 bn 33% AT1 interest €0.5bn Share of non-controlling interests and mutual 10% shareholders +€1.6bn 20% -12.5 -3.6 8% €6.5bn 2% 5% €8.6 Earnings retained -7.5 bn for the service of the economy -3.2 -0.9 -1.8 Reportable
Slide 11: The energy transition, a vector of growth
THE ENERGY TRANSITION= A VECTOR OF GROWTH An energy transition plan based on three complementary and well-structured priorities: 1 Accelerating the development of renewable and low-carbon energy by 2 As a universal bank, supporting energy transition for all: the equipment of all 3 Structuring our ex
Slide 12: Working every day in the interest of our customers and society
Working every day in the interest of our customers and society Jérôme Grivet RESULTS FOR THE 4TH QUARTER AND FULL YEAR 2024 12 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
Slide 13: Strong activity in all business lines
STRONG ACTIVITY IN ALL BUSINESS LINES Change Dec. 24/Dec. 23 New customers +1,900,000 gross (2024) +214,000 net Strong performance by retail banking and consumer finance On-balance sheet France (CR + LCL): 771 (+1.8%) deposits in retail Italy: 66 (+0.5%) • Continued upturn in the home loan activity
Slide 14: High level of net income
CRÉDIT AGRICOLE GROUP HIGH LEVEL OF NET INCOME Annual change in net income, by division (€m) By income statement line (€m) Gross operating +6.4% income +€924m +4.6% +13.5% +4.6% +13.5% +€382m +€1,032m +€382m +€1,032m +1,569 +446 +83 8,640 8,679 8,640 8,679 8,258 +322 8,258 (645) 7,647 (251) (140) (1
Slide 15: High revenues, up sharply
CRÉDIT AGRICOLE S.A. HIGH REVENUES, UP SHARPLY Q4/Q4 change in revenues, by division (€m) Annual change (m€) +17.4% +18.2% +7.9% +10.5% +€1,052m +€1,095m +€2,001m +€2,588m +357 7,092 7,116 +114 27,181 +872 +132 27,151 +35 +960 +173 25,180 (77) +491 24,563 (4) 6,040 6,021 Q4-23 Q4-23 stated Asset gat
Slide 16: Support for business development, low cost/income ratio at 54.4%
CRÉDIT AGRICOLE S.A. SUPPORT FOR BUSINESS DEVELOPMENT, LOW COST/INCOME RATIO AT 54.4% Q4/Q4 change in expenses, by division (€m) Annual change (m€) +5.6% +4.4% +€208m +€164m +9.3% +8.5% +1,263 m€ +1,154 m€ +89 +203 3,917 3,878 3,714 3,710 (2) (67) -16 +532 +107 +82 14,895 14,772 13,632 +491 13,618 +
Slide 17: Very good earnings
CRÉDIT AGRICOLE S.A. VERY GOOD EARNINGS Annual change in net income Group share by division (€m) By income statement line (€m) +11.6% +21.1% +11.3% +€738m +€1,249m Gross operating income +€1,247m +11.6% +21.1% €738m €1,249m +2,001 +437 +105 7,087 7,172 +89 +334 (73) (271) 7,087 7,172 6,348 (754) (16
Slide 18: High profitability allowing attractive shareholder compensation
CRÉDIT AGRICOLE S.A. HIGH PROFITABILITY ALLOWING ATTRACTIVE SHAREHOLDER COMPENSATION Underlying RoTE(1) at its highest since 2015 Dividend per share (€) that has tripled in 10 years 14.0% x3.1 13.1% 12.6% 12.6% 12.7% 14,0% 13,1% 12,7% 11.9% 12,6% 12,6% 11,9% 11,1% 11.1% 1.10 10,4% MTP target >12% 1.
Slide 19: Very strong capital and liquidity positions
CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. VERY STRONG CAPITAL AND LIQUIDITY POSITIONS Level of capital Liquidity profile CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP 17.2% 11.7% €473bn CET1 -0.2 pp vs Q3-24 Stable pp vs Q3-24 Liquidity reserves +1.5% Dec./Sept. +7.4 pp vs SREP +
Slide 20: Fourth quarter and full year 2024 results
20 FOURTH QUARTER AND FULL YEAR 2024 RESULTS
Slide 21: Key figures
KEY FIGURES CRÉDIT AGRICOLE GROUP CRÉDIT AGRICOLE S.A. FULL YEAR 2024 4TH QUARTER 2024 FULL YEAR 2024 4TH QUARTER 2024 Stated Stated net income Group €8,640m €2,149m net income Group €7,087m €1,689m +4.6% 2024/2023 +24.6% Q4/Q4 +11.6% 2024/2023 +26.6% Q4/Q4 share share Stated €38,060m €9,817m Stated
Slide 22: Retail banking
RETAIL BANKING Regional banks LCL Italy Egypt, Poland, Ukraine • Gross customer capture: +273k new • Gross customer capture: +60k new • Gross customer capture: +45k new • Loan outstandings: +5.5% customers during the quarter customers during the quarter customers in Q4-24 Dec./Dec.(3) • Loan outstan
Slide 23: Asset gathering
ASSET GATHERING Insurance Asset management Wealth management(1) • Record Q4 and annual revenues • Assets under management: new record, • Inflows dynamic over the quarter, high level of net €2,240bn (+10.0% Dec./Dec.) inflows over the year at €6.2bn • Savings/Retirement: gross inflows of €8.3bn, (+17
Slide 24: Large customers
LARGE CUSTOMERS Corporate and investment banking Asset servicing • Capital markets and investment banking: +18.0% Q4/Q4 on an underlying • Assets under custody and under administration up over both the quarter and basis(1) with revenues from market activities still high and a good performance the ye
Slide 25: Specialised financial services
SPECIALISED FINANCIAL SERVICES Personal Finance and Mobility Leasing and factoring • Production: -€2.9bn Q4/Q4 to €11.7bn, decrease linked in particular to the • Leasing: production +15.7% Q4/Q4 driven by property leasing and the Chinese market and automotive financing(1) representing 50.2% of total