(Boursier.com) — On a social basis, the Net Banking Product of CRCAM Normandy-Seine amounted to 281.7 million euros, down -1.7% year-on-year. As a result of the very sustained rate of rate increases over the last 18 months, the Global Intermediation Margin remains unfavorably impacted (-31% over one year). Commissions, driven by the dynamism of activity, are up +2%.
The cost of risk remains at a controlled level at 15.8 ME. The principal default rate drops to 1.17%. It illustrates good control of credit risks in the context.
After recording the tax charge of 10.1 ME, the social net income stands at 70.3 ME, down -8.5% over one year.
On a consolidated basis, the consolidated net income stands at €70.9 million, down -4.4% over one year.
The difference between the result on a corporate basis and on a consolidated basis is mainly due to:
– To the treatment of elimination of intra-group dividends (CL and subsidiary CA’NSP);
– The fluctuation of rates impacting the valuation of derivatives;
– Changes in fair value on the securities portfolio.
As of September 30, 2023, customer resources represent 42% of the total balance sheet of the Regional Bank, internal resources of the Crédit Agricole Group 25% (a major part of which comes indirectly from customer resources) and Short Term market resources 4.2% .
The Caisse Régionale de Normandie-Seine has validated with the Banque de France a program for issuing short-term negotiable debt securities (NEU CP) currently capped at 1.25 MdE (rated P-1 by the rating agency Moody’s and A-1 by Standard and Poor’s).
Basel III ratios are significantly higher than regulatory minimums. The Basel III Solvency Ratio, composed entirely of Core Tier One, stands at 23.48%. The LCR liquidity ratio, calculated on the average of the last 12 months, amounts to 169.57% for a regulatory requirement of 100%.
In perspective, Crédit Agricole Normandie-Seine indicates “to continue supporting its territory to meet the challenges of tomorrow”…