PDF (3.77 Mo) - Le CrÃ©dit Agricole

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Crédit Agricole S.A.Update of the Registration document 2011 - A03business momentum and by an upturn in interest income, which was 5.4% (1) higher than in the second quarter of2011, in line with improvement in lending margins and the reduction of funding. Fee income fell by 6.1% (1) overthe same period. This item was negatively affected by the decline in volumes, particularly in securitiestransactions.Operating expenses were tightly controlled, edging up by 1.2% between the second quarter of 2011 and thesecond quarter of 2012 ; the cost of risk was limited to 28 basis points of outstanding loans. As a result, operatingincome rose by 8.2% between the second quarter of 2011 and the second quarter of 2012 (by 1.0% restated forthe provision for home purchase savings plans), to 305 million euros.The ratio of impaired loans to outstandings was stable at 2.4% by comparison with the previous quarter, while theimpaired loan coverage ratio was increased to 77.4% compared with 76.7% at end-March 2012.In all, net income Group share was 190 million euros in the second quarter, a rise of 2.6% on the second quarterof 2011.(1) excluding home purchase savings schemesPage 14 sur 237
Crédit Agricole S.A.Update of the Registration document 2011 - A032. INTERNATIONAL RETAIL BANKINGAfter a first quarter marked by the implementation of the European support plan for Greece, difficult economicconditions persisted during the second quarter. Net income Group share for the business line was a loss of 271million euros in the second quarter of 2012, compared with a loss of 695 million in the second quarter of 2011 andof 846 million in the first quarter of 2012. For the first half of 2012, it registered a loss of 1,117 million euros,compared with a loss of 754 million euros in the first half of 2011.(in millions of euros) Q2-12ChangeQ2/Q2H1-12ChangeH1/H1Revenues 769 +1.8% 1,515 (0.8%)Operating expenses (585) +13.1% (1,092) +7.9%Gross operating income 184 (22.8%) 423 (17.9%)Cost of risk (502) +14.7% (1,446) +91.5%Operating income (318) +59.3% (1,023) x4.3Equity affiliates 28 +3.7% 52 (4.7%)Net income on other assets (2) nm - nmChange in value of goodwill - nm - nmIncome before tax (292) (45.1%) (971) +78.5%Tax 26 nm (150) (38.9%)Net income (after tax) from discontinuedactivities2 (82.4%) 4 (71.2%)Net income (264) (63.0%) (1,117) +44.0%Minority interests (7) nm - nmNet income Group share (271) (60.9%) (1,117) +48.2%In Italy, where GDP growth forecast for 2012 is negative by 2%, Cariparma shows good resilience thanks to itsspecific position as a regional network located in the north of the country. Lending and margins stood up well andnet income Group share was 6.2% higher than in the second quarter of 2011. Customer liquidity surplus, whichwas stable compared with end-March 2012 at 1.2 billion euros, helped fund the Group's other business activitiesin Italy.Loans outstanding were 33.7 billion euros, 0.4% higher than at 31 December 2011 (excluding financing of theGroup's other activities), in a market that declined by 1.0% (source: Associazione Bancaria Italiana). Loans toretail customers moved up by 1.4%, driven primarily by home loans. Corporate lending was down by 0.6%, in linewith the market. Deposits were maintained at 34.9 billion euros at 30 June 2012, in a highly competitive market,owing primarily to long-term household savings deposits.Cariparma is enjoying healthy momentum, which is allowing it to cope with increased cost of risk. Revenues were429 million euros, reflecting year-on-year rises of 9.0% in the second quarter and of 5.5% in the first half of 2012.This performance was due to resilient interest margins due to an upturn in commissions and fee income driven byhigher production in life insurance and private banking.Page 15 sur 237
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PDF (3.77 Mo) - Le CrÃ©dit Agricole

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