Crédit Agricole Italia: nuove intese sindacali su smart working e formazione
Il Gruppo diventa la prima realtà del settore bancario a prevedere lo smart working per tutta la rete commerciale retail.
A significant increase in volumes, with intermediated assets coming to Euro 143 billion (up by +5% YOY), thanks to increases in all components (loans coming to €38 billion, up by +5% YOY; total funding €105 billion, up by +6% YOY).
Over 115,000 new Customers acquired, thanks to a strategy focusing mainly on three scopes:
Continuous support to households with a significant increase in mortgage loans (new production up by +12% YOY) and in consumer credit intermediation volumes (up by +56% YOY);
Support to businesses with loans increasing by +6% YOY, with enhanced focus on segments that are key for the Group, such as the Agri-Agro one;
Development in asset management (up by +11% YOY), thanks also to constant development of the synergies with the product companies of the Crédit Agricole Group in Italy.
The ability of the Crédit Agricole Italia Banking Group to generate profitability was confirmed: net income came to Euro 208 million, including the expenses for the cost of new Solidarity Fund (€51 million) and the extraordinary contribution to the Single Resolution Fund (€24 million). Net of such non-recurring items, net income came to Euro 256 million (up by +9% YOY). Operating income (down by -3% YOY) impacted by the reduction in interest income; fee and commission income was stable. Operating expenses under control and an excellent efficiency level confirmed; cost/income ratio 56%*.
The actions continued for progressive reduction in the cost of credit, which came to Euro 306 million in 2016, decreasing by -24% YOY. The weight of adjustments of loans came to 80 bps (vs. 110 bps in 2015). The coverage ratios of non-performing loans increased coming to 42% (the coverage ratio of bad debts came to 58%). The asset quality confirmed good; the new entries in non-performing status decreased (down by -38% YOY), as did the weight of net bad debts and of non-performing loans on total loans to Customers (coming to 3.2% and 7.6% respectively), again among the best ones in the Italian Banking System.
Adequate capital soundness confirmed with the Common Equity Tier 1 coming to 11.4% and the Total Capital Ratio to 13.3%, and more than satisfactory liquidity, with the LCR coming well over 100%. Moody’s rating A3, at the highest level in the Italian Banking System.