Crédit Mutuel Arkéa starts a consultation process with its local savings banks on its independence project
The Crédit Mutuel Arkéa's Board of Directors has given to the group's directors, on 17th January 2018, a mandate to take any action enabling Crédit Mutuel Arkéa to become an independent cooperative and mutual banking group, entirely separate from the rest of Crédit Mutuel.
The General Court of the European Union acknowledges the possibility that Crédit Mutuel Arkéa exits Crédit Mutuel
Crédit Mutuel Arkéa takes note of today’s judgement by the General Court of the European Union that the ECB may supervise Crédit Mutuel via the Confédération Nationale du Crédit Mutuel (CNCM). This decision does not change the current situation, Crédit Mutuel being supervised by the ECB since 2015.
Crédit Mutuel Arkéa’s excellent growth path is ongoing
The Board of Directors of Crédit Mutuel Arkéa, meeting in Brest under the chairmanship of Jean-Pierre Denis, has approved the financial statements for the first half of the 2017 financial year. 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 earnings for Crédit Mutuel Arkéa in 2016, confirming the effectiveness of its business model
The Board of Directors of Crédit Mutuel Arkéa, meeting in Brest under the Chairmanship of Jean-Pierre Denis, has approved the 2016 financial statements. In a difficult economic environment and while undergoing a profound transformation, Crédit Mutuel Arkéa achieved record earnings. Its strong commercial and financial performance reflects the effectiveness of the particularly original and audacious strategy implemented by the Group since 2008 and confirms its intrinsic financial strength. Its business diversification has clearly borne fruit and provides a solid basis for facing, with determination, the future and the challenges of the transformation underway in the banking sector.
- Net banking and insurance income grew by 4.1% to €1.85 billion, a record level that reflects its strong business momentum;
- Operating income rose by 6.9% to €466 million under the combined effects of a contained rise in operating expenses and an almost 5% reduction in the cost of risk;
- Net income, Group share was up by 13.5% compared with 2015, reaching a record €336 million;
- The cost-to-income ratio improved by -0.2 point to 69.2%;
- The Common Equity Tier One solvency ratio remains far above the regulatory requirement at 15.3%, confirming the group’s intrinsic strength and providing an unprecedented reserve for continuing growth and investment.
350,100 new clients
At sales levels, the Group maintained a very strong growth momentum, with operating performances in line with its targets.
- Its client portfolio increased by 9.8% (350,100 new clients), bringing the total to 3.94 million.
- New lending amounted to €10.9 billion bringing total outstanding loans to €47.13 billion (+5.1%) …… ;
- In terms of savings, the overall total grew by 16.3% to more than €100 billion (€100.5 billion) thanks to the inclusion of Keytrade. At same scope, savings grew by 6.7%;
- In non-life and protection insurance, , the Group recorded a 3.4% increase in its portfolio, with 372,200 new policies bringing the total to 2.01 million policies.
Railsbank announces Arkéa Banking Services as first partner
Railsbank debuts open banking and compliance platform and announces Arkéa Banking Services as first partner. Platform gives access to global banking with 5 lines of code allowing companies to significantly reduce time to scale and revenue business internationally.