PDF (3.77 Mo) - Le CrÃ©dit Agricole

More documents

Recommendations

Info

JUNE 2012JUNE 2012JUNE 2012JUNE 2012APRIL 2012MAY 2012MAY 2012MAY 2012APRIL 2012MAY 2012Crédit Agricole S.A.Update of the Registration document 2011 - A03CORPORATE AND INVESTMENT BANKINGDiscontinuing operations• Change in revenues and cost of risk€m Q2-12 Q1-12* Q2-11 H1-12* H1-11CDO, ABS, CLO(Revenues)Correlation activities(Revenues)Exotic equity derivatives(Revenues)Cost of risk (excl.adjustment plan)38 (24) (3) 14 (10)(9) 40 (32) 31 (12)8 12 10 20 24(27) (12) (21) (39) (78)• Results of discontinuing operations€m Q2-12 Q2-12* Q2*/Q2 H1-12 H1-12*H1*/H1Revenues 37 37 nm (298) 65 nmOperating expenses (23) (23) (14.8%) (50) (50) +0.0%Gross operating income 14 14 nm (348) 15 nmCost of risk (27) (27) +28.6% (78) (39) (49.9%)Net income Group share (7) (7) (85.4%) (261) (10) (88.1%)* Adjusted for the impacts of the adjustment plan (Q1-12: -€402m in revenuesand cost of risk, Q2-12: €0m)In Q2-12, the reclassification of financial assets into loans and receivables realised on1 October 2008 offset pre-tax income of +€30m45SECOND QUARTER AND FIRST HALF 2012 RESULTSCORPORATE AND INVESTMENT BANKINGSignificant deals• Capital markets and investment bankingDANONEEUR 550,000,000Acquisition of 37.8% share capital ofAdvisorGROUPE CASINOEUR 1,175,000,000Acquisition of its 50% interest inAdvisorFONCIERE DES MURSEUR 125,000,000Rights issueBookrunnerGDF SUEZEUR 1,000,000,0001.5% NotesDue 2016EUR 1,000,000,0002.25% NotesDue 2018EUR 1,000,000,0003% NotesDue 2023Global Coordinator andJoint BookrunnerFRAIKIN ASSETSEUR 1,011,000,000Rental Truck FleetSecuritizationLead Arranger and JointBookrunner• Financing activitiesSABINE PASSLIQUEFACTION LLCUSAUSD 3,626,000,000Project FinancingJoint Lead Arranger,Joint Bookrunner&Co-Syndication AgentHUTCHISON TELEPHONECO LTDHONG KONGHKD 5,500,000,000Term Loan & RevolvingCredit FacilitiesMLAAEROPORTI DI ROMAITALYEUR 500,000,000Term Loan & Revolving CreditFacilitiesMLA & BookrunnerEDIPOWERITALYEUR 1,246,000,000Project / Acquisition FacilitiesMLA & BookrunnerAIR FRANCE1 A380-800French Lease combined withECA loanCo-Arranger, LeaseArranger & Agent46SECOND QUARTER AND FIRST HALF 2012 RESULTSPage 50 sur 237
Crédit Agricole S.A.Update of the Registration document 2011 - A03CORPORATE AND INVESTMENT BANKINGSensitive exposuresbased on Financial StabilityBoard recommandations47SECOND QUARTER AND FIRST HALF 2012 RESULTSCORPORATE AND INVESTMENT BANKINGExposure to mortgage ABSRMBSUSA United Kingdom Spain31/12/2011 30/06/2012 31/12/2011 30/06/2012 31/12/2011 30/06/2012Recognised under loans and receivablesGross exposure 430 150 197 194 172 136Discount (132) (74) (68) (40) (47) (50)Net exposure (€m) 298 76 129 154 125 86Recognised under assets measured at fair valueGross exposureDiscount214(185)Net exposure €m 29 7 59 37 26 25% of underlying subprime on net exposure% of underlying subprime assets produced before 2006% of underlying subprime assets produced in 2006 and 200798%83%17%85%54%46%Breakdown of total gross exposure by ratingAAAAAABBBBBBCCCCCCNon rated5%2%7%3%1%4%21%9%28%20%153(146)8%6%5%5%0%1%1%45%29%29%Total 100% 100% 100% 100% 100% 100%66(7)7%34%41%Net exposure €m CMBS 31/12/2011 30/06/2012Recognised under loans and receivablesCMBS USCMBS United KingdomCMBS otherRecognised under assets measured at fair valueCMBS USCMBS United KingdomCMBS other• Stock of collective reserves on RMBS and CMBS in loans and receivables: €95m• Additionally, purchase of hedges on RMBS and CMBS measured at fair value:- at 30 June 2012: nominal = €137m; fair value= €113m- 31 December 2011: nominal = €320m; fair value= €87m486397SECOND QUARTER AND FIRST HALF 2012 RESULTS5418%42935443(6)17%63%20%31(5)34%19%19%3%25%30(5)45%22%4%Page 51 sur 237
Page 1 and 2: UPDATE A03Financial reviewat 30 Jun
Page 3: Crédit Agricole S.A.Update of the
Page 8 and 9: Crédit Agricole S.A.Update of the
Page 58 and 59: Total regulatory capital before ded
Page 100 and 101:
Crédit Agricole S.A.Update of the
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
Page 220 and 221:
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
Page 232 and 233:
Page 234 and 235:
Page 236 and 237:
show all

PDF (3.77 Mo) - Le CrÃ©dit Agricole

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?