PDF (3.77 Mo) - Le CrÃ©dit Agricole

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Crédit Agricole S.A.Update of the 2011 registration document - A03Note 3 Notes to the income statements3.1 Interest and similar income and expenses(in millions of euros) 30/06/2012 31/12/2011 30/06/2011Interbank transactions 804 1,731 829Crédit Agricole internal transactions 3,310 6,938 3,309Customer transactions 7,391 14,195 6,932Accrued interest receivable on available-for-sale financial assets 3,962 8,330 4,290Accrued interest receivable on held-to-maturity investments 440 906 473Accrued interest receivable on hedging instruments 778 1,281 932Finance leases 580 1,146 566Other interest and similar income 466 (1) 43 17INTEREST AND SIMILAR INCOME (2) 17,731 34,570 17,348Interbank transactions (792) (1,990) (966)Crédit Agricole internal transactions (811) (1,044) (472)Customer transactions (4,048) (7,677) (3,630)Debt securities (2,456) (4,393) (2,086)Subordinated debt (520) (1) (2,297) (1,195)Accrued interest receivable on hedging instruments (1,051) (1,755) (1,377)Finance leases (123) (240) (125)Other interest and similar expenses 36 (5) (6)INTEREST AND SIMILAR EXPENSES (9,765) (19,401) (9,857)In 2012, €418 million of commitment fees were reclassified under interest income. These fees amounted to €1,041 million in full-year 2011 and€489 million in the first half of 2011.(1) The subordinated debt buyback in the first half of 2012 affected other interest and similar income and interest expenses on subordinateddebt, resulting in an overall impact of €864 million.(2) Including €64 million of receivables written down individually at 30 June 2012 versus €215 million at 31 December 2011 and €120 million at30 June 2011.3.2 Net fees and commissions(in millions of euros) 30/06/2012 31/12/2011 30/06/2011Income Expense Net Income Expense Net Income Expense NetInterbank transactions 102 (26) 76 160 (57) 103 72 (28) 44Crédit Agricole internaltransactions 244 (503) (259)427 (974) (547) 222 (461) (239)Customer transactions 856 (101) 755 1,816 (190) 1,626 899 (94) 805Securities transactions 387 (165) 222 1,289 (775) 514 570 (313) 257Foreign exchangetransactions 20 (9) 11Derivative instrumentsand other off-balancesheet items 711 (539) 172Payment instruments andother banking andfinancial services 1,103 (1,406) (303)Mutual fundsmanagement, fiduciaryand similar operations 1,253 (267) 986NET FEES ANDCOMMISSIONS 4,676 (3,016) 1,66044 (18) 26 22 (8) 142,120 (760) 1,360 1,034 (348) 6862,208 (2,735) (527) 1,113 (1,342) (229)2,715 (598) 2,117 1,364 (312) 1,05210,779 (6,107) 4,672 5,296 (2,906) 2,390In 2012, €418 million of commitment fees were reclassified under interest income. These fees amounted to €1,041 million in full-year 2011 and€489 million in the first half of 2011 (see note 3.1 "Interest and similar income and expenses").Page 144 sur 237
Crédit Agricole S.A.Update of the 2011 registration document - A033.3 Net gains (losses) on financial instruments at fair value through profit or loss(in millions of euros) 30/06/2012 31/12/2011 30/06/2011Dividends received 157 627 409Unrealised or realised gains or losses on assets/liabilities at fair value 1,368 1,677 1,938through profit or loss classified as held for trading (1)Unrealised or realised gains or losses on assets/liabilities designated 1,104 (1,846) (361)as at fair value through profit or loss upon initial recognition (2)Net gains (losses) on foreign exchange transactions and similarfinancial instruments (excluding gains or losses on hedges of netinvestments in foreign operations)640 (486) (755)Gains or losses from hedge accounting (22) (24) 111NET GAINS (LOSSES) ON FINANCIAL INSTRUMENTS AT FAIRVALUE THROUGH PROFIT OR LOSS3,247 (52) 1,342(1) The change in debt revaluation resulted in net banking income of €225 million at 30 June 2012 versusincome of €671 million at 31 December 2011 and €37 million at 30 June 2011 on structured issuesmeasured at fair value (see note 5.1 Financial liabilities at fair value through profit or loss).(2) Including €2,012 million at 30 June 2012 and -€63 million at 30 June 2011 on financial assets held byinsurance companies. This item includes the change in the value of assets in unit-linked policies(+€1,122 million at 30 June 2012 versus -€1,993 million at 31 December 2011). An opposite trend isobserved in the change in technical reserves related to these contracts, recognised in "Net income(expenses) on other activities”.Analysis of net gains (losses) from hedge accounting:Gains or losses from hedge accounting are as follows:(in millions of euros)30/06/2012Gains Losses NetFair value hedges 7,820 (7,837) (17)Change in fair value of hedged items attributable tohedged risks3,279 (3,378) (99)Change in fair value of hedging derivatives (including4,541 (4,459) 82sales of hedges)Cash flow hedges - - -Change in fair value of hedging derivatives – ineffectiveportion- - -Hedges of net investments in foreign operations - - -Change in fair value of hedging derivatives – ineffectiveportionFair value hedge of the interest rate exposure of aportfolio of financial instruments- - -6,165 (6,170) (5)Change in fair value of hedged items 3,149 (3,307) (158)Change in fair value of hedging derivatives 3,016 (2,863) 153Cash flow hedge of the interest rate exposure of aportfolio of financial instrumentsChange in fair value of hedging instrument – ineffectiveportionTOTAL GAINS OR LOSSES FROM HEDGEACCOUNTING- - -- - -13,985 (14,007) (22)Page 145 sur 237
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UPDATE A03Financial reviewat 30 Jun
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JUNE 2012JUNE 2012JUNE 2012JUNE 201
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Total regulatory capital before ded
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