A first successful year for the Solidarity banker programme2019/05/16
- 3 min
Third quarter and first nine months 2016 results
Strong growth of net profit and strengthened financial solidity
Contribution to growth from all business lines
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
 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.
 Including unaudited Q3-16 net income.
 465bp using the phased-in CET1 ratio, subject to confirmation by the ECB of the pre-notification of SREP requirements for 2017
 Dividend of 0.60€ per share entirely deducted from the CET1 capital as of 30/09/2016.
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