PDF (3.77 Mo) - Le Crédit Agricole

Crédit Agricole S.A.Update of the 2011 registration document - A03In all, operating income amounted to 2,339 million euros, down 0.6% compared with the first half of 2011.Consequently, for the six months to 30 June 2012, the Regional Banks' contribution to Crédit Agricole S.A.'snet income Group share amounted to 545 million euros. Excluding impairment losses booked in theaccounts of the Regional Banks on SACAM International shares which holds the equity investments inEmporiki and Cariparma, their contribution would have been 612 million euros, up 6.5%.2- French retail banking – LCL(in millions of euros)H1 2012 H1 2011Change2012/2011Revenues 2,013 1,968 +2.3%Operating expenses, depreciation and amortisation (1,246) (1,235) +0.9%Gross operating income 767 733 +4.6%Cost of risk (144) (155) (7.2%)Pre-tax income 623 578 +7.7%Income tax (209) (178) +17.1%NET INCOME 414 400 +3.5%NET INCOME GROUP SHARE 394 380 +3.5%LCL continues to back the economy by supporting SMEs and individual customers in financing their projects.Nonetheless, the first half of 2012 confirmed the trend initiated at the end of 2011, with a combination ofhigher deposits and controlled growth in lending.Loans outstanding rose by 0.7% year-on-year to 87.8 billion euros at 30 June 2012. This modest growthwas driven by home loans, which increased by 3.1% year-on-year to 54.2 billion euros. By contrast, loans toSMEs, which had risen substantially during the first half of 2011 (+7.4% between end-June 2010 and end-June 2011), remained stable year-on-year.Total deposits rose by 1.6% year-on-year to 151.5 billion euros. On-balance sheet deposits registeredgrowth of 13.7% year-on-year, driven by an increase of 31.6% in term account and deposits and by 12.2% indemand deposits. Off-balance sheet customer deposits declined by 8.6% year-on-year, due mainly to mutualfunds (down 23.3%) and securities portfolios (down 9.2%).The loan-to-deposit ratio improved by 13bp, at 116% at end-June 2012 compared with 129% at end-June2011.Revenues for the half year came to 2,013 million euros, up 2.3% on the first half of 2011 and up 0.4%restated for the provision for home purchase savings schemes and Cheque Image Exchange (CIE) fine. Thisresilience was supported by strong business momentum and by an upturn in interest income, which was7.5% (5) higher than in the first half of 2011, in line with improvement in lending margins and the reduction offunding. Fee and commission income fell by 8.0% (1) over the same period. This item was negatively affectedby the decline in volumes, particularly in securities transactions.(5) excluding home purchase savings schemes and write-back of Cheque Image Exchange (CIE) provisionPage 79 sur 237