Crédit Mutuel Arkéa posts record earnings in 2015, confirming the strength of its business model
In an environment of sluggish economic growth and growing regulatory and tax pressures, Crédit Mutuel Arkéa achieved record earnings attesting to the strength and relevance of its banking model. Its commercial and financial performances, at their strongest levels ever, highlight the Group’s remarkable growth trajectory and give it the means to ensure its future growth.
Net banking and insurance income rose by 3.3% to €1.78 billion, an all-time high that reflects sustained sales momentum ;
Operating income increased by 5.3% to €437 million thanks to the combined impact of efficient control of operating expenses and lower cost of risk;
Net income, Group share grew by 10% to €296 million, its highest level ever;
The cost-to-income ratio, remained virtually unchanged at 69.4% (+0.2 point compared with 2014) ;
The Common Equity Tier One ratio remained well above the regulatory requirement, at 15.8%, giving the Group an unprecedented reserve of financial strength with which to grow and invest.
In terms of sales growth, the Group maintained very strong momentum, with operating performances in line with its targets.
Its client portfolio increased by 136,900 new clients, up 4%, bringing the total to 3.62 million and attesting to the attractiveness of the bank’s products and services.
New lending totaled €12.2 billion (+44%), bringing the total volume of loans outstanding to €44.8 billion (+9%) and reflecting the branch network’s strong sales momentum and Crédit Mutuel Arkéa’s unwavering commitment to supporting its clients’ projects;
In terms of savings, the Group recorded net intake of €5.1 billion, bringing the overall total to €86.4 billion (+10% versus 2014). With net intake of €2.6 billion for interest-bearing bank deposits and €2.3 billion in insurance savings products, the growth trend remains robust;
In non-life and protection insurance, the Group recorded a 3.8% increase in its portfolio, with 374,100 new policies bringing the total to 1.95 million policies.