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Key figures

Key figures


Thanks to its universal customer-focused banking model – based on close cooperation between its retail banks and its specialised business lines – reaffirmed by its new “A Whole Bank Just For You” brand signature, Crédit Agricole helps its customers to realise all their personal and business projects. It does so by offering them an extensive range of services consisting of day-to-day banking, loans, savings products, insurance, asset management, real estate, leasing and factoring, corporate and investment banking, issuer and investor services.

Serving 52 million customers worldwide, it also stands out on account of its distribution model, multi-channel customer-focused banking, and the efforts of its 138,000 employees, who make Crédit Agricole the Customer Relationship-based bank. Built on its strong cooperative and mutual foundations and led by its 9.3 million mutual Shareholders and almost 31,000 directors of its Local and Regional Banks, Crédit Agricole’s organisational model gives it stability and staying power. It also draws its strength from its values of transparency, customer focus, accountability and openness to the world and from local communities, which it has cultivated over 120 years. Crédit Agricole’s Corporate Social Responsibility policy lies at the heart of its identity as a helpful and responsive bank over the long term. It is reflected in its products and services and informs the actions of all its business lines. It is a key factor contributing to overall performance and a powerful innovation driver.

Crédit Agricole Group extends its leadership year after year. It is the number one provider of financing to the French economy and the number one insurer in France. It is also the first bancassurer in Europe, the first European asset manager and the world’s second-largest provider of green financing.


Synthetic business of year 2016


2015 income statement data are presented on a pro forma basis: transfer of CACEIS from Asset gathering to Large customers, transfer of Insurance Switch from the Corporate Centre to Insurance and reclassification of the contribution of the Regional Banks under IFRS 5 (registered in “net income from discontinued or held-for-sale operations”). Within Crédit Agricole S.A., “Retail banking” covers only LCL and International retail banking.

Moreover, as the amounts contained in the tables and comments below do not take into account the effects of rounding up or down, they may differ slightly from the amounts provided in the financial statements.

Crédit Agricole S.A.’s net income Group share totalled €3,541 million in 2016. In addition to the usual accounting elements such as the issuer spread (-€85 million impact on net income Group share), debit valuation adjustments (-€25 million) and loan hedges (-€16 million), significant specific items affected the 2016 financial year:

  • the non-recurring impacts related to the simplification of the Group’s capital structure, known as the Eureka operation: the gain on disposal of €1,254 million (net of transaction fees and after tax expense) and dividends from the Regional Banks recorded by the Corporate Centre in 2016 in the amount of €285 million;
  • expenses related to adjustments to refinancing costs at Crédit Agricole S.A. and LCL, i.e. -€448 million (in the first quarter of 2016) and -€187 million (third quarter) after tax respectively;
  • the capital gain of €327 million made on the disposal of Visa securities in the second quarter;
  • provisions recorded for the restructuring of the LCL and Cariparma group networks, i.e. -€26 million (in the third quarter) and -€25 million (fourth quarter) respectively in net income Group share;
  • impairment of the goodwill recognised on the LCL group, explained in the press release issued on 20 January 2017, i.e. a negative impact of -€491 million for the Crédit Agricole S.A. Group, which is not tax deductible;
  • an expense of -€160 million (in net income Group share) relating to the adjustment of deferred tax assets and liabilities: the 2017 Budget has reduced the standard rate of corporate income tax in France from 34.4% to 28.9% from 2020, which requires deferred tax assets and liabilities maturing in or after that year to be revalued starting in 2016.

Excluding these specific items, underlying net income Group share was €3,137 million in 2016, an increase of +22.8% compared with 2015.

At end-December 2016, Crédit Agricole S.A.’s solvency was further strengthened: the fully-loaded Common Equity Tier 1 ratio stood at 12.1%, an improvement of +140 basis points compared with end-December 2015 and +10 basis points compared with end-September 2016. The improvement in 2016 excluding Eureka stemmed chiefly from the inclusion in the calculation of net income Group share after prudential adjustments (+85 basis points), Eureka operation for +72 basis points and the capital increase reserved for employees (+8 basis points), offset by the change in unrealised gains on available-for-sale financial assets (-16 basis points) and in return, the distribution of the dividend and AT1 coupons (-61 basis points). Risk-weighted assets remained stable over the year at €301 billion. The phased-in total capital ratio stood at 20.1% at 31 December 2016, up +80 basis points compared with 2015. Lastly, Crédit Agricole S.A.’s phased-in leverage ratio under the Delegated Act adopted by the European Commission was 5.0%(1) at end-December 2016.

(1) As defined in the Delegated Act. Subject to ECB authorisation, assumption of exemption of intragroup transactions for Crédit Agricole S.A. (with an impact of +130 basis points) and non-exemption of exposures related to the centralisation of CDC deposits, according to our understanding of information

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