The underlying income of Crédi Agricole S.A. increased sharply reached a historic level over the year with an amount of €4,582m, an increase of 4.0%.
It benefits from the positive contribution of all business lines, with dynamic revenues (+3.3%), and from the control of changes in expenses (+1.5%).
(underlying excl. SRF)
The cost/income ratio improved from 1.1 pp year-on-year to 61% while integrating investments to support, on the one hand, the development of the asset management and insurance business, and, on the other hand, CACEIS as part of its recent partnerships with Santander and KAS Bank.
(in basis points)
The year 2019 shows a return of the cost of risk to a normal level in CIB (Corporate and Investment Banking). The +25.5% increase from 2018 was mainly due to the Large customers division, which recorded a risk charge of –€160m at end-December 2019, compared with a net recovery of +€64m at endDecember 2018.