CASA Group news / Special Edition - Q3 and first nine months of 2016 results - Results up sharply and financial robustness strengthened
Results up sharply and financial robustness strengthened This morning, Crédit Agricole Group reported net income Group share of €4.2 billion for the first nine months of 2016 and €1.4 billion for the third quarter. Underlying net income Group share came to €1.8 billion for the third quarter, up compared with the same period of 2015. The Regional Banks delivered a continued high level of net income Group share at €777 million for the third quarter. Crédit Agricole S.A. reported net income Group share of €3.2 billion for the first nine months of 2016 and €1.86 billion for the third quarter. Underlying net income Group share came to more than €1 billion, up sharply by 27% compared with the third quarter of 2015. Growth was driven by a good commercial performance in all business lines. Financial robustness was further strengthened, with a fully-loaded Common Equity Tier 1 ratio of 14.4% for the Group and 12.0% for Crédit Agricole S.A. after deduction of the entire recommended dividend for 2016. Thanks to a comfortable capital base and solid profitability, Crédit Agricole S.A. has reached a new milestone and clarified its dividend policy. A cash only dividend of €0.60 per share for 2016 will be recommended at the annual shareholders' meeting. As of 2017, the payout rate will be kept at 50%, with the intention not to lower the dividend relative to 2016.