PDF (3.77 Mo) - Le Crédit Agricole

Crédit Agricole S.A.Update of the Registration document 2011 - A03RESULTS BY BUSINESS LINE1. FRENCH RETAIL BANKING1.1. - CRÉDIT AGRICOLE REGIONAL BANKS(in millions of euros) Q2-12ChangeQ2/Q2H1-12ChangeH1/H1Net income accounted for at equity method (at about25%)164 (10.9%) 391 (4.9%)Change in share of reserves 9 (43.8%) 154 (5.5%)Share of income from equity affiliates 173 (14.0%) 545 (5.2%)Net income Group share 173 (14.0%) 545 (5.2%)At the Regional Banks, business continued to develop, with balanced growth in lending and on-balance sheetdeposits.Customer deposits amounted to 554.4 billion euros, with on-balance sheet deposits rising by 6.4% year-on-yearto nearly 321 billion euros. Growth was driven primarily by time deposits (up 22.9%). Off-balance sheet depositsmoved down by 3.9% between June 2011 and June 2012 due to customer risk-aversion for securities, while lifeinsurance deposits remained stable year-on-year despite market pressures.Loans outstanding rose by 2.8% year-on-year to 394.3 billion euros, with a 4.3% increase in home loans and aresilient performance in the SMEs and small business customer segments. Conversely, consumer credit loansdeclined.As a result, the loan-to-deposit ratio showed further improvement, decreasing to 127% at end-June 2012 from129% at end-December 2011.The Regional Banks' revenues (restated for intragroup transactions) amounted to 3.2 billion euros in the secondquarter of 2012, down by 5.6% by comparison with the second quarter of 2011. Revenues from customerbusiness were stable over the period (even excluding home purchase savings schemes) owing to persistentlysolid interest margins. Conversely, commissions and fee income declined by 3.9% year-on-year, particularly inthe securities business segment. Portfolio revenues were adversely affected by a -268 million euro impairmentbooked by the Regional Banks on SACAM International which holds their equity investments in Emporiki andCariparma (-67 million euros impact on Crédit Agricole S.A.’s net income Group share). Excluding this accountingimpact, revenues (excluding home purchase savings schemes) were down 0.3% year-on-year.Expenses remained under control, with a rise of 1.2% to 1.9 billion euros in the quarter.In the second quarter, the cost of risk declined sharply, by 52.2% year-on-year to 216 million euros, due to asubstantial fall in collective reserves. The cost of risk amounted to 22 basis points of outstanding loans in thesecond quarter of 2012 compared with 48 basis points in the second quarter of 2011. The ratio of reservesPage 12 sur 237