Third quarter and first nine months 2016 results

Crédit Agricole Group*

• Good commercial momentum throughout the Group: branch networks, business lines, large customers
• Q3 net income Group share: €1.4bn stated, €1.8bn underlying , +4% Q3/Q3; 9M underlying1 €4.7bn
• Regional Banks: high net income Group share at €0.78bn in Q3; 9M: €2.4bn
• Financial solidity further strengthened to record level: fully-loaded CET1 ratio  14.4%
  * Crédit Agricole S.A. and 100% of Regional Banks

Crédit Agricole S.A.

• Good commercial momentum in all business lines
• Underlying revenues (1) :+12% Q3/Q3
• Strong growth in Large Customers (revenues +38% Q3/Q3) and initial recurring benefits of Eureka
• Group simplification (Eureka) completed: €1.25bn positive impact on net income Group share
• Q3 net income Group share stated: €1.86bn; underlying (1) €1.02bn, +27% Q3/Q3
• Tight cost control: down -2% Q3/Q3
• Firm grip on risk in all business lines: cost of credit risk 41bp
• Financial solidity confirmed and further strengthened: fully-loaded CET1 ratio (2) of 12.0%
• Buffer of 475bp above the distribution restriction trigger applicable as of 1/1/2017 (3)
• Attractive dividend policy, based on strong capital base and good visibility of future earnings capacity
• Intention to recommend a dividend of  €0.60 (4) based on FY-2016 net income; from 2017 onwards, 50% payout rate and intention not to lower dividend relative to 2016
  [1] See Appendix, page 24 of this press release for details of specific items for the third quarter and first nine months of 2016 and comparable data for 2015.
  [2] Including unaudited Q3-16 net income.
  [3] 465bp using the phased-in CET1 ratio, subject to confirmation by the ECB of the pre-notification of SREP requirements for 2017
  [4] Dividend of 0.60€ per share entirely deducted from the CET1 capital as of 30/09/2016.

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