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Crédit Agricole S.A.Update of the Registration document 2011 - A03THE BUSINESS LINES OF CREDIT AGRICOLE S.A.International retail banking – Cariparma• In spite of difficult economic conditions (Italian GDPgrowth forecast: -2% in 2012), revenues and resultsresilient: lending and margins maintained, net incomeGroup share up 6.2% YoY in Q2• Deposits stabilised: customer liquidity surplus of €1.2bn,helping to finance the Group's other activities in Italy• Lending: up 0.4% on 31/12/2011 (excluding financing of Group’s otheractivities), compared with a 1.0%*** decline for the market.- Retail customer loans: up 1.4%, sustained by home loans- Business customer loans: down 0.6%, in line with market trend• Deposits maintained in a highly competitive market, mainly owing tolong-term deposits from households• Healthy momentum to meet higher cost of risk• Revenue growth: +9.0% YoY in Q2, +5.5% YoY in H1- Interest margins maintained, increase in fee and commission income driven bygrowth of production in life insurance and private banking• Extensive cost-cutting programmes launched- Network processes and organisation undergoing review- Implementation of voluntary departure plan: cost €54m provisioned in Q2 tocover about 400 departures by end-2014• Cost of risk adversely affected by economic deterioration, yet belowItalian market average- Cost of risk / outstandings: 98bp in H1- Impaired loan ratio: 7.1%, with cover rate: 44.5%• Tax relief of €47m in Q2 and €51m in H1Outstanding loans and deposits (€bn)33.233.632.8 32.733.833.834.9 34.933.6 33.7June 11 Sept 11 Dec 11 March 12 June 12Cariparma contribution to Crédit Agricole S.A.resultsLoansDeposits€m Q2-12 Q2/Q2 H1-12 H1/H1Revenues 429 +9.0% 829 +5.5%Operating expenses* (255) +8.0% (506) +9.1%Cost of departure plan (54) nm (54) nmGross operating income 120 (14.6%) 269 (9.2%)Cost of risk (89) +68.8% (162) +50.2%Tax 26 nm (7) nmNet income 57 +5.9% 100 (10.5%)Net income Group share 41 +6.2% 72 (10.5%)Cost/income ratio* 59.2% -0.6pt 60.9% +1.1pt* Excl. cost of departure plan in Q2-12 and integration costs in H1-11** Net income Group share including the gain on the disposal of CA Vita (sold to CAA in Q1-12)*** Source: Associazione Bancaria ItalianaCariparma group net income Group share (incl. Calit):€166m in H1-12**, o/w €50m in Q2-1219 SECOND QUARTER AND FIRST HALF 2012 RESULTSTHE BUSINESS LINES OF CREDIT AGRICOLE S.A.International retail banking – Emporiki• Binding offers submitted by several Greek banks• Subject to usual regulatory approvals, the HFSF’s approval andthe European Commission’s review of compliance with State aidrules• Crédit Agricole S.A.'s net funding to Emporiki Bank was€4.6bn at 30 June down to €2.3bn after the €2.3bn capitalincrease at the end of July• Access to ELA funding obtained in June• Reduction of ECB refinancing• Shipping portfolio: transfers to take place starting in September• Q2-12 results• No impact from ongoing disposals of the Romanian, Bulgarianand Albanian subsidiaries to Crédit Agricole S.A.• Revenues decreased owing to the higher cost of deposits• Expenses up €22m QoQ in Q2, half of this due to the 140incentivised departures in Q2 and to higher taxes• Cost of risk- Business sector and country risk provision in Q2: €143m- NPL ratio: 36.8% (up 0.9pp QoQ in Q2), with 57.3% cover rate• o/w loans to corporates cover rate: 76,8%Exposure of Crédit Agricole S.A. to Emporiki Bank(€bn)0,89,90,77,81,3Emporiki Group contribution to Crédit Agricole S.A.results€m Q2-12 Q2/Q2 H1-12 H1/H1Revenues 125 (28.6%) 286 (21.8%)Operating expenses (146) +9.2% (270) +2.1%Gross operating income (21) ns 17 (83.7%)Cost of risk (377) +8.5% (1,207) x2.1o/w PSI and other - nm (344) nmo/w Business sector and countryrisk prov0,6 0,45,5 4,6 4,6(143) nm (314) nmTax 12 nm (121) (21.6%)2,72,330/06/11 30/09/11 31/12/11 31/03/12 30/06/12 Pro forma30/06*CapitalNet refinancing* After €2.3 bn capitalincrease in JulyNet income (386) (52.7%) (1,311) +33.8%Net income Group share (370) (52.4%) (1,275) +39.1%20 SECOND QUARTER AND FIRST HALF 2012 RESULTSPage 37 sur 237