Q1 2026 Credit Agricole SA Earnings Call Transcript
Key Points
- Credit Agricole SA (CRARF) reported solid results with a net income increase of 1.8% pro forma, supported by a revenue rise to $7 billion.
- The company achieved a high Return on Tangible Equity (ROTE) of 13.7%, indicating strong profitability.
- The cost-to-income ratio improved by 0.6 percentage points quarter-on-quarter, reflecting enhanced operational efficiency.
- Credit Agricole SA (CRARF) successfully increased its stake in Banco BPM to 22.9%, capitalizing on a dip in share price.
- The company launched a European digital platform, CA Savings, in Germany, aiming to double its on-balance sheet savings in the region.
- The cost of risk increased by 32% compared to Q1 2025 due to cautious provisioning amidst geopolitical uncertainties.
- The company faced unfavorable market effects on insurance OCIs and market RWAs, impacting financial performance.
- The mobility segment was affected by unfavorable conditions in the car market, leading to increased stock of used cars.
- There was a decrease in asset gathering revenues due to scope effects, despite strong net inflows in other areas.
- The large customers division experienced a $69 million FX effect, impacting revenue growth.
Good afternoon. This is the conference operator. Welcome and thank you for joining the Credit Agricole's first quarter 2026 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions by pressing star and one on your telephone. Should anyone need assistance during the conference call, they may signal an operator by pressing star and steer on their telephone.
At this time, I would like to turn the conference over to Ms. Clotilde Langevin, Deputy General Manager of Creti Agricole. Please go ahead, madam.
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Thank you.
Thank you very much.
Hello, everybody. I'm conscious that this is a very busy day for you, so I'm going to try to be short. And so, starting on page 4, to tell you that we have solid results this quarter for clinical SA, $1.7 billion, despite the turbulent environment. All of the Q1 2025
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