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Crédit Agricole S.A.Update of the 2011 registration document - A035.4 Impairment deducted from financial assets(in millions of euros) 31/12/2011Loans and receivables to creditinstitutionsChange inscopeIncreasesReversalsand Translationutilisations adjustmentsOthermovements 30/06/2012568 - 4 (10) 8 - 570Loans and receivables to15,895 - 3,887 (3,128) 75 (25) 16,704customers (1)of which collective impairment 3,541 - 565 (405) 26 (21) 3,706Finance leases 542 - 165 (132) - 6 581Held-to-maturity financial assets (2) 57 - - (57) - - -Available-for-sale financial7,515 27 712 (5,528) 102 - 2,828assets (3)Other financial assets 125 - 12 (5) (5) - 127TOTAL IMPAIRMENTOF FINANCIAL ASSETS 24,702 27 4,780 (8,860) 180 (19) 20,810Changes in scope(2) Including €12 million relating to the entry into scope of CLAM Philadelphia, €65 million relating to the deconsolidation of Amundi AILtd and -€50 million relating to the disposal of BES Vida.Additions(1) Including €320 million on public-sector companies guaranteed by the Greek government (Hellenic Railways, Hellenic DefenseSystema and Athens Urban Transport) included in the final scope of the exchange offer, €314 million of country risk and businesssector provisions on Greece and €364 million relating to Agos assets.Reversals and utilisations(2) Including reversals mainly related to the exchange forming part of the Greek debt restructuring plan.Other movements(1) Including -€50 million relating to the adoption of IFRS 5 at BNI Madagascar, €17 million relating to the transfer of a litigationprovision to impairment of customer loans and €13 million relating to the early redemption of loans backed with swaps.(in millions of euros) 31/12/2010Change inscopeIncreasesReversalsandutilisationsTranslationadjustmentsOthermovements 31/12/2011Loans and receivables tocredit institutions 555 - 37 (40) 16 - 568Loans and receivables tocustomers (1) 13,709 71 4,977 (2,921) 51 8 15,895of which collectiveimpairment 3,250 19 461 (271) 74 8 3,541Finance leases (2) 309 - 454 (211) (1) (9) 542Held-to-maturity financialassets (3) - 745 (688) 57Available-for-sale financialassets (4) 1,656 (1) 5,625 (450) 7 678 7,515Other financial assets 133 1 97 (101) (5) - 125TOTAL IMPAIRMENTOF FINANCIAL ASSETS 16,362 71 11,935 (3,723) 68 (11) 24,702Changes in scope(1) The €71 million under “Changes in Scope” essentially includes Carispezia for €64 million and new branches with Cariparma for €7million.Depreciation charges(3) and (4) Including impairments on Greek government debt under the Greek bailout plan, which are recognised primarily in insurancebusinesses and partially offset by a reversal of provisions in insurance technical reserves recognised in liabilities.(4) The assessment of the need to record permanent impairment losses on equity securities classified as available-for-sale financialassets, beyond the impairment criteria defined in accounting policies and principles (i.e Note 1.3 of the 2011 Registration document)led to the recognition of €185 million in such losses (before applying the policyholder profit sharing mechanism specific to theinsurance business).Reversals and utilisations(4) Reversals and utilisations of provisions on available-for-sale financial assets essentially include full or partial sales of available-forsalesecurities or mutual funds.Other movements(1) Including €4 million of reclassifications to Assets at Crédit Agricole Leasing & Factoring.(2) Including mainly a transfer of €9.5 million to fixed assets at Crédit Agricole Leasing & Factoring.(3) Transfer from held-to-maturity to available-for-sale of -€688 million of sovereign debt in insurance activities.(4) Including mainly the transfer of €688 million of held-to-maturity to available-for-sale securities and -€18 million transferred betweenthe outstanding amount and the impairment of CA Vita securities portfolio.Page 166 sur 237
Crédit Agricole S.A.Update of the 2011 registration document - A035.5 Exposure to sovereign and non-sovereign risk on European country under watchGiven the economic climate confirming the difficulties that some countries in the eurozone face in controllingtheir public finances, the European solidarity policy has resulted in support for Greece, Portugal and Ireland.In the absence of any defaults and given the plans put in place, none of these securities was written down,except for Greek securities, which represent a special case described below:Exposure to sovereign risk in Greece, Ireland, Portugal, Italy, Spain, Cyprus and HungaryExposure to sovereign risk on Hungary and Cyprus are not significant on December 31st, 2011 and on June30th, 2012Banking activityFor banking activity, information is presented according to the methodology that was used to perform stresstests at the request of the EBA (European Banking Authority). The scope of sovereign exposures recordedcovers exposures to the Government.Exposure to sovereign debt corresponds to an exposure net of impairment (carrying amount) and gross andnet of hedging. At June 30th, 2012, the Group exposure on Greece corresponds only to the new Greekbonds, and excludes the EFSF bonds (European Financial Stability Facility) and zero coupon bonds.30/06/2012(in millions of euros)Held-tomaturityfinancialassetsBanking activity exposures net of impairmentIncluding banking portfolioAvailablefor-salefinancialassetsFinancialassets at fairvaluethroughprofit or lossLoans andreceivables *includingtrading book(excudingderivatives)TotalBankingactivitygross ofhedgingHedging ofavailablefor-salefinancialassets **TotalBankingactivity netof hedgingGreece - 31 - - - 31 - 31Ireland - 151 - - - 151 (5) 146Portugal - 145 - 5 4 154 (8) 146Italy - 3, 811 - 170 339 4,320 (287) 4,033Spain - 45 - - 107 152 - 152TOTAL - 4,183 - 175 450 4,808 (300) 4,50831/12/2011(in millions of euros) (1)Held-tomaturityfinancialassetsBanking activity exposures net of impairmentIncluding banking portfolioAvailablefor-salefinancialassetsFinancialassets at fairvaluethroughprofit or lossLoans andreceivables *includingtrading book(excludingderivatives)TotalBankingactivitygross ofhedgingHedging ofavailablefor-salefinancialassets **TotalBankingactivity netof hedgingGreece - 111 - - 1 112 - 112Ireland - 146 - - - 146 (6) 140Portugal - 589 - 18 8 615 (14) 601Italy - 3,567 - 192 128 3,887 (246) 3,641Spain - 48 - - - 48 - 48TOTAL - 4,461 - 210 137 4,808 (266) 4,542* Excluding deferred tax assets** No hedging on financial assets held-to-maturity and on trading assets(1) The exposure at 31 December 2011 has been restated for an inaccurately disclosed exposure to Spanish localauthorities for -€124 million and to Italy for -€10 million.Page 167 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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