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  • 2017/02/15
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Results for the fourth quarter and full year 2016

2016: a year of construction, acceleration of growth and good financial performance in all business lines

Crédit Agricole Group*

Results & financial solidity :

  • Good level of activity in all components: networks, businesses and large customers
  • 2016 NIGS: €5.4bn stated excluding goodwill impairment, €6.4bn underlying
  • Financial solidity at top level and further strengthened: fully-loaded CET1 ratio at 14.5%

* Crédit Agricole S.A. and 100% of Regional Banks

Crédit Agricole S.A.

Activity

& revenues:

  • Acceleration of growth: strong commercial momentum in all businesses and agreement signed in view of the acquisition of Pioneer Investments by Amundi
  • Underlying revenues1: +10.9% Q4/Q4
  • Strong increase in Asset gathering and Large customers business lines, first recurring effects of Eureka

Results:

  • Q4 NIGS stated excluding goodwill impairment : €782m; underlying €904m, +52.6% Q4/Q4;
  • 2016 underlying1 €3,137m, +22.8% 2016/2015
  • Strong increase in businesses’ underlying NIGS: +46.4% Q4/Q4, contribution of all businesses up
  • Expenses well under control: improvement of -6.6 pts of underlying cost/income ratio1 Q4/Q4 to 65.4%
  • Risk well managed in all businesses: cost of credit risk 41 bps
  • Significant specific items in Q4: impairment of goodwill (-€491m), deferred tax revaluation (-€161m) and issuer spread (+€103m before tax)

Financial solidity:

  • Financial strength confirmed at high level despite rise in interest rates: fully-loaded CET1 ratio 12.1%
  • Reminder: target of 11% at end-2019, i.e. 250 bps above the distribution restriction threshold (8.50% at 1/1/19)(1)

Dividend:

  • Dividend of €0.60 in cash for the year 2016(2); from 2017 onwards, pay-out ratio of 50% and intention to maintain the dividend versus 2016

Click here to see the press release and to listen to the interview with Jérôme Grivet, Deputy Managing Director of Crédit Agricole S.A. in charge of Group Finance.

Find all the financial information of Crédit Agricole S.A. and of the Crédit Agricole group here.

(1) Pro forma Pillar 2 requirement (P2R) as notified by the ECB
(2) To be proposed to the shareholders’ meeting in May 2017, detachment date: 29 May 2017, payment date: 31 May 2017

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