First quarter 2016

A first quarter marked by the stability of the Group’s underlying NIGS, one-off impacts of the project to simplify the Group’s structure and the robustness of Crédit Agricole S.A.'s business model

Crédit Agricole Group*: stability of underlying NIGS Q1/Q1, at €1,241m

Revenues stated: €7,159 million; underlying**: €7,810 million (-3.1% Q1/Q1)
Income before tax stated: €1,396 million; underlying**: €2,047 million (-5.1% Q1/Q1)
Net income Group share stated: €818 million; underlying**: €1,241 million (-0.2% Q1/Q1) -€238 million for SRF and a -€448 million impact of the project to simplify the Group’s structure
Fully-loaded CET1 ratio: 13.9% (+90bps /March 15)
* Crédit Agricole S.A. and Regional Banks at 100%

Crédit Agricole S.A.: limited decrease of underlying NIGS (-9.3% Q1/Q1)

• Good overall business momentum
• Expenses under control
• Further decrease in cost of risk
• Robust financial structure confirmed
• Progress of the project to simplify the Group’s structure in line with the announcements

Revenues stated: €3,799 million; underlying**: €4,194 million (-4.3% Q1/Q1)
Operating expenses: €3,176 million (-0.1% excluding SRF Q1/Q1)
Cost of risk: -€402 million (-15.6% Q1/Q1)
Net income Group share stated: €227 million; underlying**: €394 million (-9.3% Q1/Q1) -€201 million for SRF and a -€399 million net impact of the project to simplify the Group’s structure
Fully-loaded CET1 ratio: 10.8% (+60 bps / March 15)
** Changes restated for specific items

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