1ST QUARTER

2024 RESULTS

WORKING EVERY DAY IN THE INTEREST

OF OUR CUSTOMERS AND SOCIETY

Disclaimer

The financial information on Crédit Agricole S.A. and Crédit Agricole Group for first quarter 2024 comprises this presentation and the attached appendices and press release which are available on the website: https://www.credit-agricole.com/en/finance/finance/financial-publications.

This presentation may include prospective information on the Group, supplied as information on trends. This data does not represent forecasts within the meaning of EU Delegated Act 2019/980 of 14 March 2019 (Chapter 1, article 1, d).

This information was developed from scenarios based on a number of economic assumptions for a given competitive and regulatory environment. Therefore, these assumptions are by nature subject to random factors that could cause actual results to differ from projections. Likewise, the financial statements are based on estimates, particularly in calculating market value and asset impairment.

Readers must take all these risk factors and uncertainties into consideration before making their own judgement.

The figures presented for the three-month period ending 31 March 2024 have been prepared in accordance with IFRS as adopted in the European Union and applicable at that date, and with the applicable regulations in force. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 "Interim Financial Reporting" and has not been audited.

Note: the scopes of consolidation of the Crédit Agricole S.A. and Crédit Agricole Groups have not changed materially since the Crédit Agricole S.A. 2023 Universal Registration Document and its A.01 update (including all regulatory information about the Crédit Agricole Group) filed with the AMF (the French Financial Markets Authority).

The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding.

NOTE

The

Crédit Agricole Group scope of consolidation comprises:

the Regional Banks, the Local Banks, Crédit Agricole S.A. and their subsidiaries. This is the scope of consolidation that has been selected by the competent authorities to assess the

Group's position in the recent stress test exercises.

Crédit Agricole S.A.

is the listed entity, which notably owns

the subsidiaries of its business lines (Asset gathering, Large customers, Specialised financial services, French retail banking and International retail banking)

2

1ST QUARTER 2024 RESULTS

Key messages and figures

3

1ST QUARTER 2024 RESULTS

THE GROUP CONTINUES TO GROW

  • Outlook: 2024 results expected to reach 2025 Ambitions MTP target a year ahead
  • Highest-everfirst quarter driven by the increase in GOI, excluding SRF, and the end of SRF building-up period
  • Very solid capital and liquidity positions
  • Progress of strategic operations (ISB(1), creation of JV with Worldline CAWL, Degroof Petercam, Alpha Associates, Victory Capital)
  • Increased support for the energy transition

Crédit Agricole S.A.Crédit Agricole S.A.Crédit Agricole S.A.

€1.9bn

+12.3%

53.7%

NIGS Q1-2024

Increase in GOI

Underlying

+55.2% Q1/Q1

excl. SRF

cost/income ratio(2)

(+13.3% excl. SRF)

Q1/Q1

Q1-2024

  1. RBC Investor Services in Europe has become CACEIS Investor Services Bank ("ISB") and has been consolidated since Q3-2023.
  2. Underlying data, detail of specific items available on page 38.
  3. Underlying ROTE calculated on the basis of underlying net income Group share and linearised IFRIC costs over the year

Crédit Agricole S.A.Crédit Agricole S.A.

16.3%

11.8%

Underlying ROTE(3)

Phased-in CET1

Q1-2024

Q1-2024

4

1ST QUARTER 2024 RESULTS

KEY FIGURES

CRÉDIT AGRICOLE GROUP

1ST QUARTER 2024

CRÉDIT AGRICOLE S.A.

1ST QUARTER 2024

Net income Group share

stated

Revenues

stated

GOI

stated

Cost / income

58.8%

ratio

-0.2 pp Q1/Q1

underlying(1)

CET 1

17.5%

Phased-in

Stable Q1/Q4

€2,384 m

+42.8% Q1/Q1 (+6.1% excl. SRF)

€9,525 m

+6.7% Q1/Q1

€3,936 m

+30.4% Q1/Q1 (+8.0% excl. SRF)

25 bp

CoR /

outstandings

Stable Q1/Q4

4 rolling quarters

€476bn

Liquidity

reserves

+7.0% Q1/Q4

31/03/2024

Net income Group share

stated

Revenues

stated

GOI

stated

Cost/income

53.7%

ratio

-0.4 pp Q1/Q1

underlying(1)

CET 1

11.8%

Phased-in

Stable Q1/Q4

€1,903 m

+55.2% Q1/Q1 (+13.3% excl. SRF)

€6,806 m

+11.2% Q1/Q1

€3,137 m

+37.6% Q1/Q1 (+12.3% excl. SRF)

33 bp

CoR /

outstandings

Stable Q1/Q4

4 rolling quarters

16.3%

ROTE

+1.9 pp Q1/Q1

Underlying (2)

  1. Underlying data, details of specific items available on page 38 and 67; Q1/Q1 variation excl. SRF
  2. Underlying ROTE calculated on the basis of underlying net income Group share and linearised IFRIC costs over the year

5

1ST QUARTER 2024 RESULTS

OUTLOOK: 2024 RESULTS EXPECTED TO REACH 2025 AMBITIONS MTP TARGET A YEAR AHEAD

Crédit Agricole S.A. underlying NIGS vs MTP target

  • Continued good business momentum (customer capture, equipment rate, off-balance sheet deposits) resulting in a rise in fees and commissions and in insurance revenues
  • Integration of recent acquisitions, sources of synergies (ISB, Degroof Petercam, Alpha Associates)
  • Continued growth of the mobility activity
  • CIB benefiting from its better positioning with customers
  • Structural operating efficiency and a healthy balance sheet
  • Continued pressure on margins for French retail banking and consumer finance, NIM ceiling at CA Italia
  • Integration costs in 2024 on acquisitions (Degroof Petercam ~ €50m, ISB: €80-100m)

1. Proforma of the capital simplification operation (Eurêka))

6

1ST QUARTER 2024 RESULTS

STEPPING UP THE ENERGY TRANSITION

A transition plan based on three complementary and well-structured priorities:

Accelerating the development

2 As a universal bank,

1 of renewable and low carbon

energy by focusing our

supporting energy transition

for all: the equipment of all

financings on renewable and

corporates and households

low-carbon energy projects

3 Structuring our own exit trajectory from the financing of carbon-based energy

Low-carbon energy(1)

Installed renewable

financing

energy(2) capacity

+80% +14%

2023/2020

2023/2022

€19.7 bn

13.5GW

31/12/2023

31/12/2023

Green loans(3)

Share of electrified

vehicles(4)

+43%

1/4

March 24/Dec. 22

Among new vehicles

AgilAuto

€17.7bn

financed in 2023

Partage

31/03/2024

NET ZERO

TRAJECTORIES

IN LINE WITH 2030 TARGET

  1. Low-carbonenergy outstandings made up of renewable energy produced by the clients of all Crédit Agricole Group entities, including nuclear energy outstandings for CACIB.
  2. CAA scope.
  3. CACIB green asset portfolio, in line with the eligibility criteria of the Group Green Bond Framework published in November 2023.
  4. Electric or hybrid

7

1ST QUARTER 2024 RESULTS

CRÉDIT AGRICOLE GROUP

NET ZERO TRAJECTORIES IN LINE AT END-2023 WITH 2030 TARGETS

Trajectories announced in 2022

Oil & GasPower(2)

Automotive

New commitments made in 2023

AviationShipping

-63%

-17%

Financed emissions

Intensity of financed emissions

2030 target

2030 target

-75%(1)

-58%(1)

Commercial real estate

Cement(3)

-5%

+3%

Intensity of financed emissions

Intensity of financed emissions

2030 target

2030 target

-40%(1)

-20%(1)

-13%

Intensity of financed emissions

2030 target

-50%(1)

-25%

Intensity of financed

emissions

in 2030(1)

Steel

-26%

Intensity of financed

emissions

in 2030(1)

-36%

Intensity of financed

emissions

in 2030(1)

Exposure to hydrocarbon extraction

  1. Reference year 2020, except Aviation, reference year 2019; initial Oil & Gas commitment of -30% by 2030 announced in 2022.
  2. Scope: Crédit Agricole CIB and Unifergie (Crédit Agricole Transitions & Energies).
  3. For this small portfolio (<10 customers), the end of relationship with some relatively less carbon intensive customers led to an automatic increase in the intensity of the portfolio which does not reflect the reality of either the sector or our efforts.
  4. Direct exposure to project financing of hydrocarbon extraction (gross exposure excl. export credit cover).

$1.06bn

End to financing of any

Project finance exposure to

new fossil fuel extraction

hydrocarbon extraction

projects

31/12/2023(4)

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1ST QUARTER 2024 RESULTS

Crédit Agricole S.A. Summary

9

1ST QUARTER 2024 RESULTS

(+8.4 pp)

ACTIVITY

CONTINUED DEVELOPMENT OF UNIVERSAL BANKING

Continued development of universal Retail Banking model

  • Strong momentum in customer capture
  • Increase in retail banking inflows
  • Strong insurance activity
  • High and balanced asset management inflows
  • Slowdown in production in the home loan market in France and Italy

Strong momentum of Large Customers division

  • Record performance over the quarter in CIB
  • Record level of assets under custody and under administration for CACEIS
  1. Car, home, health, legal, all mobile phones or personal accident insurance.
  2. CA Auto Bank, automotive JV and automotive activity of the other entities.

New customers

On-balance sheet deposits in retail banking (€bn)

Loans outstanding retail banking

(€bn)

Property and casualty insurance equipment rate(1)

Assets under management (€bn)

Consumer finance outstandings (€bn)

Change March 24/March 23

+512,000 gross

+67,000 net

France (CR + LCL): 758 (+3.7%)

Italy: 65 (+5.8%)

Total: 824 (+3.9%)

France (CR + LCL): 812 (+0.3%)

Italy: 60 (+1.5%)

Total: 872 (+1.2%)

43.4% (+0.5 pp) Regional Banks

27.8% (+0.4 pp) LCL

19.3% (+2.0 pp) CA Italia

Wealth management: 197 (+6.3%)

Life insurance: 335 (+3.2%)

Asset management: 2,116 (+9.4%)

Total: 2,648 (+8.8%)

Total: 114

Of which Automotive(2): 53% (stable)

  • 2 Syndicated loans in France and EMEA
  • 4 All Bonds in EUR Worldwide

Source: Refinitiv

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1ST QUARTER 2024 RESULTS

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Crédit Agricole SA published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 05:12:08 UTC.