Credit Agricole Sa · EURONEXT:ACA

Credit Agricole Sa — Q3 2022 Earnings Presentation

23 slides from Credit Agricole Sa's earnings presentation, Nov 10, 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 FOR THE 3RD QUARTER AND FOR THE FIRST NINE MONTHS OF 2022

  2. Slide 2: Philippe Brassac – Third Quarter 2022 Results

    Working every day in the interest of our customers and society Philippe Brassac THIRD QUARTER 2022 RESULTS 2 THIRD QUARTER AND THE FIRST NINE MONTHS 2022 RESULTS

  3. Slide 3: Solid quarterly results for the Group, anchored in the real economy

    SOLID QUARTELY RESULTS FOR THE GROUP, ANCHORED IN THE REAL ECONOMY Q3 2022 9M 2022 Reported Underlying Strong results Crédit Agricole S.A. €1,352m €3,937m • in line with MTP trajectory Net income Group share -3.6% Q3/Q3 -0.6% 9M/9M • +20.6% vs 9M-19 pre-crisis level Crédit Agricole Group Net income

  4. Slide 4: Record high Q3 revenues, compared to an exceptionally high Q3-21

    RECORD HIGH Q3 REVENUES, COMPARED TO AN EXCEPTIONALLY HIGH Q3-21 Crédit Agricole S.A. T2 T3 Underlying quarterly revenue grwoth since 2017 (in €m) T4 6 188 5 829 +0.9% 5 779 +7.6% 5 585 5 535 5 185 5 299 5 146 5 179 5 184 5 073 5 143 4 834 4 810 4 814 619 4 564 4 THIRD QUARTER AND THE FIRST NINE MON

  5. Slide 5: Strong operational efficiency

    STRONG OPERATIONAL EFFICIENCY Crédit Agricole S.A. Best coverage ratio of the major European banks C/I ratio(1) Cost/income 58.1% ratio still very strong and below the MTP target +0.8 pp 9M/9M Risk back to Crédit Agricole S.A. 30bp CoR/outstandings (2) pre-COVID crisis levels (2019) Annualised (2) 3

  6. Slide 6: Actions in line with the 2025 Ambitions strategic plan

    ACTIONS IN LINE WITH THE 2025 AMBITIONS STRATEGIC PLAN Rolling-out our universal banking model Launch of exclusive partnership with Stellantis on long-term leasing on 1st semester 2023 Business lines participating in European consolidation Creation of a European leader in Asset Servicing with CACEIS

  7. Slide 7: Jérôme Grivet – Third Quarter 2022 Results

    Working every day in the interest of our customers and society Jérôme Grivet THIRD QUARTER 2022 RESULTS 7 THIRD QUARTER AND THE FIRST NINE MONTHS 2022 RESULTS

  8. Slide 8: Solid commercial performance driven by the Universal Customer-focused Banking model

    GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. Solid commercial performance driven by the Universal Customer-focused Banking model, despite the opaque short-term environment Since the start of 2022 460,000 1.5 million new customers in Q3 new customers CA No. 1 home lender in +3.0% France loan productio

  9. Slide 9: Crédit Agricole Group key figures

    GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE GROUP Key figures Q3 2022 9M 2022 Underlying Revenues €8,948m €28,186m -0.3% Q3/Q3 +3.1% 9M/9M Operating expenses -€5,680m -€17,396m excluding SRF +4.5% Q3/Q3 +5.8% 9M/9M Cost/income 61.7% ratio(1) +1.6 pp 9M/9M Gross operating income €3,268m €9,987m i.e., in t

  10. Slide 10: Regional Banks: strong business momentum

    GROUPE CRÉDIT AGRICOLE REGIONAL BANKS Strong business momentum Q3 2022 9M 2022 Loans outstanding Underlying data +6.0% ∆ 622.9 Sept./Sept. Revenues €3,328m €10,348m 587.7 614.0 -2.3% Q3/Q3 -0.7% 9M/9M 207.7 218.6 221.4 +6.6% 21.8 22.5 22.6 +3.5% Expenses -€2,225m -€6,911m 358.2 372.8 378.9 +5.8% exc

  11. Slide 11: Crédit Agricole S.A. key figures

    CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE S.A. Key figures Q3 2022 9M 2022 Underlying Revenues €5,585m €17,701m +0.9% Q3/Q3 +4.9% 9M/9M Cost/income 58.1% Operating expenses -€3,394m -€10,281m ratio(1) +0.8 pp 9M/9M excl. SRF +4.6% Q3/Q3 +6.4% 9M/9M i.e., in the MTP target Gross operating income €2,191m €

  12. Slide 12: Q3/Q3 and 9M/9M revenues up, despite a significant market impact

    GROUPE CRÉDITCRÉDIT AGRICOLE AGRICOLE S.A. REVENUES Q3/Q3 and 9M/9M revenues up, despite a significant market impact Underlying quarterly revenue growth since 2017 (in €m) T1 T2 T3 T4 6 188 5 929 5 829 5 779 5 585 5 508 5 535 5 185 5 299 5 146 5 179 5 184 4 903 5 137 5 073 5 143 4 900 4 834 4 810 4

  13. Slide 13: Cost/income ratio below the MTP target

    CRÉDIT AGRICOLE S.A. OPERATIONAL EFFICIENCY Cost/income ratio below the MTP target 75,0% 75,0% 72,6% 72,6% 71,8% 70,0% 69,4% 68,9% 70,0% Business line expenses (excl. Corporate Centre) +4.3% 65,5% 66,4% Q3/Q3 and +6.1% 9M/9M 65,0% 62,8% 63,8% 65,0% 62,1% 63,3% 62,9% 61,0% 61,8% Underlying expenses 9

  14. Slide 14: Cost of risk

    GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. COST OF RISK Cost of proven risk back to 2019 quarterly average High coverage ratio(3) Crédit Agricole S.A. underlying cost of risk Crédit Agricole Group 908 35.5% 236 Others 86.9% 621 S1&S2 CoR 577 340 16 546 500 30 165 17 223 384 360 S3 CoR* 314 193 11 9

  15. Slide 15: Asset quality: high share of provisions on performing loans

    GROUPE CRÉDIT AGRICOLE CRÉDIT AGRICOLE S.A. ASSET QUALITY High share of provisions on performing loans Best coverage ratio among the large European banks Crédit Agricole Group – Loan loss reserves (in €bn) Source: Data at 30/09 for Crédit Agricole S.A. and Crédit Agricole Group. Analysis based on 30

  16. Slide 16: CASA CET1 in line with MTP target despite 280-bp rise in 10-year rates

    CRÉDIT AGRICOLE S.A. CASA CET1 in line with MTP target, despite the 280-bp increase in 10-year rates this year Crédit Agricole SA : evolution of CET1 ratio (bp) 9M 2022 +47 bp 11.9% -13 bp +4pp vs 11.0% SREP -84 bp Organic generation of -24 bp capital +34 bp -18 bp +3.1pp vs SREP Economic/market imp

  17. Slide 17: Group's capital structure amongst the strongest in Europe

    Group’s capital structure amongst the strongest in Europe, CASA CET1 on target Best capital structure amongst European GSIB Distance to SREP in Q3 2022(1) Crédit Agricole Group 17.2% Crédit Agricole Group GSIB 1 830 bp 740 bp (2) Solvency (Phased-in CET1) +8.3 pp vs. GSIB 2 560 bp SREP GSIB 3 410 bp

  18. Slide 18: Business lines: Asset gathering

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Asset gathering Crédit Agricole Assurances Amundi Wealth management • Savings/retirement: net inflows -€0.1bn in Q3, driven by • €1,895bn assets under management, +4.7% • Net inflows +€1.5bn Sept/June, UL contracts (+€0.8bn) Sept/Sept despite unfavourable market c

  19. Slide 19: Business lines: Large customers

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Large customers CACIB CACEIS • Financing activities(1): revenues +12.6% Q3/Q3. Commercial banking +12.1% Q3/Q3 • Acquisition project to strenghthen CACEIS’ leading position in thanks to strong growth in the International Trade and Transaction Banking activity, Eur

  20. Slide 20: Business lines: Specialised financial services

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Specialised financial services CA CF CAL&F • Dynamic commercial production +12.6% Q3/Q3, including +22.9% Q3/Q3 • Commercial leasing production +15.5% Q3/Q3; for the automotive JVs and +16.8% for Agos • Factored revenues +20.8% Q3/Q3, due to inflation, and thanks

  21. Slide 21: Business lines: Retail banking

    CRÉDIT AGRICOLE S.A. BUSINESS LINES Retail banking LCL Crédit Agricole Italy International • Gross customer capture +263,400 over 9M • Gross customer capture +115,000 over 9M • Strong commercial activity in Poland and Egypt • Loans outstanding : +9.2% Q3/Q3 driven by dynamic • Corporate loan product

  22. Slide 22: Results in line with MTP targets

    CRÉDIT AGRICOLE S.A. RESULTS IN LINE WITH MTP TARGETS 9M Targets 2022 targets 2022 2025 Net income > €5bn €3.9bn > €6bn Group share ROTE > 11% 12.5%(1) > 12% Cost/income < 60% < 60%(2) 58.1% ratio excl. SRF CET1 target 11% 11.0% 11%(3) €0.58 dividend Payout ratio 50% in cash 50% in cash provision (1

  23. Slide 23: QE creorracricoue $a CREDIT AGRICOLEGROUP

    QE creorracricoue $a CREDIT AGRICOLEGROUP

Credit Agricole — Q3 2022 Earnings Presentation on 6ix