Crédit Mutuel Arkéa’s excellent growth path is ongoing
In a contrasted economic and financial environment, Crédit Mutuel Arkéa's results are at their highest level, demonstrating very good commercial and operational performances in its various business lines and confirming once again the strength of its balance sheet.
Record high interim results, further strengthened balance sheet In the first half of 2017, net income came out at €193 million, up by 3.5% in relation to the first half of 2016 (€187 million).
Net banking and insurance income grew by 7.1% compared to the first half of 2016, to more than €1 billion
Operating income rose by 14.4%, to €290 million, compared with €253 million at the end of June 2016.
A 1.6-point improvement of the cost-to-income ratio, at 68.6%
The Common Equity Tier One* ratio remains far above regulatory requirements, at 16.9%, confirming the group’s intrinsic strength.
Crédit Mutuel Arkéa's balance sheet grew by €4.7 billion in the first half of 2017, to €125.1 billion.
Sustained commercial activity Crédit Mutuel Arkéa continued its strong growth in all its business lines.
The client portfolio increased by 2.1% to 4.1 million in the first half of 2017, mainly driven by Crédit Mutuel networks, online banking and insurance
New lending in the first half of 2017 reached €6.2 billion, up by 14.5% in relation to the first half of 2016. This increase mainly concerns loans to individuals and to local authorities. Gross loans outstanding before provisions increased by 3.1% to €48.6 billion.
Total savings rose by 4.3% compared to the end of 2016, reaching €104.8 billion. The net savings inflows, driven by financial savings, remained stable in relation to the first half of 2016, at €2.3 billion.
In non-life and protection insurance, the group’s portfolio continued to grow in the first half of 2017, rising by 2.8% to more than 2 million policies. New business in the first half of the year rose by 6% in relation to the first half of 2016, to 211,800 policies. External networks contributed to 27% of new business.