(Boursier.com) — In the individual accounts of the CRCAM Alpes Provence, the Net Banking Income amounts to 438.5 million euros. Penalized by the negative impact of the rise in rates on the margin (unprecedented increase in the refinancing charge, increase in the cost of customer collections), the NBI shows a cyclical decline and contained at -5.2%.
In a consolidated view and under the same effects, the revenue dynamics are very similar (-8.1%).
The cost of risk (16.4 bps on outstanding) is down (31.2 ME), despite the increase in the outstanding amount of defaulted loans (rate of doubtful and disputed debts at 1.63% vs. 1. 50% as of 12/31/2022), covered at a still very cautious level of 54.3%. The Caisse Régionale also increased its coverage of B1 and B2 receivables by increasing the IFRS 9 provisions to 212.5 ME (1.12% of the outstanding), up by +7.5 ME compared to December 2022 in order to include unfavorable developments in the economic context which could impact its outstandings.
After taking into account the tax burden, the Individual net profit amounts to 92.4 ME (-8.6% vs December 2022).
The consolidated accounts under IFRS standards include the results of the consolidated entities as well as restatements specific to IFRS standards. In 2023, the group’s net profit under IFRS standards amounts to €116.4 million (-20% vs. December 2022).
The Caisse Régionale has built up a solid liquidity balance sheet to meet the financing needs of its customers. The Basel 3 liquidity ratio (LCR) stands at 105.6% as of December 31, 2023. With an overall solvency ratio of 21.76% as of December 31, 2023, the Caisse Régionale de Crédit Agricole Alpes Provence is navigating this unprecedented context. with an extremely solid solvency base.
Outlook
In a still uncertain economic environment, Crédit Agricole Alpes Provence, “faithful to its values, the Caisse Régionale de Crédit Agricole Alpes Provence will continue to act every day in the interest of its customers and society, with the strength of its cooperative and mutualist regional bank model.