Record results in 2017 confirm Arkéa's solidity and the relevance of its development model
In a rapidly changing environment, these excellent commercial and financial performances confirm the intrinsic strength and agility of a group that has built an original development model and found growth drivers in digital services and Business-to-Business activities.
Net income breaks new record and exceeds €400m threshold for the first time
The Net banking and insurance income posted very strong growth (+12.8%), in a context still marked by uncertainty. It reached its highest historical level, at €2.09 billion and reflects a very good sales momentum in all its business lines;
Operating income rose at a high rate of 30.7% to €610m;
Net income attributable to equity holders of the parent jumped to €428m, up 27.3% on 2016. The Arkéa Group thus set a new historical record, despite the exceptional corporate income tax levied on large corporations. In four years, the group has thus doubled its net income.
The cost-to-income ratio, at 68.3%, reached its lowest level in 6 years, with a 0.9 point decline over the year, reflecting fair cost control.
The highest solvency ratio of the French banking industry
The Common Equity Tier One solvency ratio, already well above regulatory requirements, rose sharply to 18.5% (+3.2 points). This ratio - the highest in the banking market - confirms the intrinsic solidity of the group, which thus has an unprecedented power reserve to continue to develop, invest and finance any capital-intensive and industrial acquisitions or partnerships.
Outstanding commercial performance
On a commercial level, the group is continuing its excellent development trajectory in all its banking and non-bank activities:
Crédit Mutuel Arkéa's customer portfolio grew by a significant 4.3% to 4.24 million customers and members. This strong growth, particularly in the e-banking and insurance businesses, was driven by the Group's innovative capacity and its strategy of openness, with the achievements of new distribution partnerships.
Lending broke a new record and reached €12.9 billion. It brings the level of outstanding loans to €50.75 billion (+7.7%);
Total savings rose by 7.2% to €107.7 billion, with significant growth across all savings categories: banking, financial and insurance;
In non-life insurance, the Group's portfolio grew by 4.8% to 2.11 million contracts, boosted by 398,600 new policies.