Crédit Agricole Italy ended 2022 with a Net income di 1,1 billion of Euro, + 11 % compared to 2021. Thebusiness continues to be dynamic, with total loans to the economy amounting to 99 billion euros and one total collection equal to 317 billion euros. I am 857 the millions pertaining to the French parent company Crédit Agricole.
A Globally Crédit Agricole closes 2022 with a net profit of 8,1 billion euros. A drop of 10,5% on 2021, but with a historic result in the fourth quarter with over 1,5 billion in profit and revenues close to 6 billion.
These results, beyond estimates of analysts, make the stock on the stock exchange which earns over 4%.
The data in detail
Total funding was €317 billion in 2022. I revenues are recording a growth of 2,1% annual (adjusted) thanks to the increase in the interest margin which rises with the rise in interest rates in the Eurozone. The commissions are stable (-0,4% annual adjusted), with the positive performances of the insurance, consumer credit and business segments which offset the sectors most penalized by the market trend. The incidence of net impaired loans the percentage of gross non-performing loans fell to 1,8% and stood at 3,3%.
THEconsolidated net profit of banking activities only in Italy in 2022 it was of 433 million (+22% year on year adjusted), or 559 million including the effects of the one-off tax realignment and the charges deriving from the acquisition of Creval.
The capital position of the Group is confirmed as solid with Common Equity Tier 1 Fully Loaded at 13,03% and Total Capital Ratio to 18,3%, with capital levels well above the minimum requirements assigned by the ECB for 2022. Dividend stable at 1,05 euro per share.
I new customers between France, Italy and Poland there were 1,9 million.
For the CEO of the Group Philippe Brassac the "strong and solid results, in a context of shock and adaptation, confirm the timeliness of the universal banking model".
The Italian market of the Group
Crédit Agricole is present in Italy with approximately 17.000 employees and over 5,5 millions of customers. In addition to Crédit Agricole Italia, the Group also includes Corporate and Investment Banking (Cacib) and financial services companies (Agos, FCA Bank), Leasing (Crédit Agricole Leasing, part of Crédit Agricole Italia) and Factoring (Eurofactor) , Asset Management and Asset Services (Amundi, Caceis), Insurance (Crédit Agricole Vita, Crédit Agricole Assicurazioni, Crédit Agricole Creditor Insurance) and Wealth Management (CA Indosuez Wealth Management in Italy and CA Indosuez Fiduciaria).
