Crédit Agricole's market cap, dividends, sales and earnings in 2020

  •   DEHOUI Lionel

Considered the largest network of cooperative and mutual banks in the world, Crédit Agricole is a reference in its sector. During the year 2020, the group was committed to providing extensive assistance to its customers during the Covid-19 health crisis. The company's turnover for this year reached 13 billion euros.  

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Crédit Agricole's market cap, dividends, sales and earnings in 2020
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Group business review in the first quarter of 2020

In the first quarter of 2020, Crédit Agricole had recorded underlying net banking income of €8,378 million. Underlying operating expenses excluding the Single Resolution Fund (SRF) amounted to €5,478 million. Underlying gross operating income amounted to 2 445 million euros.

Underlying pre-tax profit for the quarter was 1,612 million euros. For the first three months of 2020 as a whole, net profit (group share) amounted to 981 million euros. In addition, in Q1-2020, the company's commercial activity was buoyant.

Asset management assets under management grew by 3.5% in Q1 2020. Life insurance assets increased by 2% year-on-year. Net unit-linked inflows rose by 40% compared with the same period of the previous year. Loans increased by 7% in the retail networks in France and Italy (excluding PGE).

Consumer credit outstandings increased by 2.1%. In addition, new business was dynamic in the first quarter of 2020. This enabled the group to register 416,000 new customers. Commercial activity was also very good in market banking. The group succeeded in meeting its clients' needs in terms of hedging and bond issues.

 

Performance in Q2-2020

For the whole of the second quarter of 2020, Crédit Agricole recorded underlying net banking income of 5,185 million euros. 5,185 million, up 0.1% on the same period of the previous year. Underlying gross operating income reached EUR 2,130 million in Q2-2020.

However, it decreased by 0.5% compared to the year-earlier level. For Q2-2020, the net income group share amounted to 1,107 million euro. It was down 10.9% compared to the second quarter of 2019. Underlying pre-tax profit had reached €2,343 million in the quarter, down 13.6%. The group recorded underlying earnings per share of €0.36, down 10.1% year-on-year.

In the second quarter of 2020, the company's business activity was very good. Asset management assets under management increased by 7.1% compared to Q2-2019. Life insurance assets increased by 1.6% year-on-year. Also, the increase in outstandings is very solid in the retail banking networks in France and Italy.

In Q2-2020, outstanding loans reached EUR 726.9 billion, up 8.7% year-on-year. In France, they stood at EUR 681.8 billion (up 9%). 44.2 billion (up 4.9%). Excluding PGE, outstandings stood at EUR 708.4 billion, up 5.9% on Q2-2019.

 

Third quarter 2020 results

In the third quarter of 2020, the Crédit Agricole Group's underlying net banking income reached €8,460 million. It increased by 1.6% compared to the same period the year before. Underlying gross operating income was EUR 3,368 million in Q3-2020, up 8.2% year-on-year.

Underlying pre-tax profit was 2,854 million euros in the quarter. 2,854 million in the quarter, up 0.8% year-on-year. For the second quarter of 2020 as a whole, the net result, group share, was 1 934 million euros. It is up 0.5% compared to Q3-2019.

In the third quarter of 2020, the group's commercial activity was very solid. Outstanding loans rose by 8.2% year-on-year to €552.8 billion. 537.6 billion, up 5.2%. Housing loans grew by 6.4%.

Loans to businesses, professionals and farmers increased by 15% in the quarter under review. In Q3-2020, credit realisations showed an increase of 0.8% compared to the second quarter of 2019. Life insurance outstandings increased slightly by 0.3%. In contrast, those related to securities fell by 6.1%.

 

Quarterly business update in Q4-2020

In the fourth quarter of 2020, the Crédit Agricole Group recorded underlying net banking income of EUR 8,660 million. It is up 0.7% compared to its level in Q4-2019. Underlying gross operating income increased by 1.3% year-on-year to €3,093 million.

In Q4-2020, the company saw its underlying pre-tax profit decline by 16% (compared to Q4-2019) to €2,223 million. Net income, group share, reached €1,429 million. 1,429 million, down 28.1% year-on-year. In the quarter under review, the Regional Banks' commercial activity was very solid.

Outstanding loans rose by 8.4% to EUR 563.7 billion. 563.7 billion. Excluding PGE, they rose by 5.2% compared with Q4-2019 to stand at EUR 547.1 billion. Housing loans grew by 6.6%. Loans to businesses, professionals and farmers rose by 12.6%.

 

Dividend and market capitalisation of Crédit Agricole in 2020

The dividend represents the share of net profit paid to the company's shareholders. Crédit Agricole is one of the companies that follow this logic. Thus, for the financial year 2020, the group has distributed a dividend of 0.80 euro per share.

Crédit Agricole is also present in the equity markets. The company is included in the CAC 40 stock market index. At the end of 2020, its market capitalisation was estimated at 30.1 billion dollars.

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