(Boursier.com) — The Net Banking Income of Credit Agricole de Touraine Poitou increases by 5.9% in 2022, to 299.4 million euros. The Regional Bank benefits from several exceptional products for an amount close to €25 million (increase in dividends paid by Crédit Agricole SA, reversal of provisions on home savings following the rise in interest rates, favorable effect of the adjustment of the hedging model rate). The intermediation margin was penalized by the rapid rise in rates, commissions linked to the development of offers and services continued to grow and income from the securities portfolio held up thanks in particular to the inflation indexing of part of the portfolio bond established as part of the management of liquidity ratios.
General operating expenses, at 193.6 ME, are up +6.4%, with wage measures helping to safeguard purchasing power and continued investment in people, digital as well as in the branch network. In 2022, more than 155 new hires and nearly 80 work-study students will enrich the commercial lines and support the training of young people.
The net cost of risk is 20 ME with an increase in provisions for anticipation in view of the macro-economic context, while the risk caused remains low.
The company’s net profit increased by 10% to 68.9 ME. The evolution of the consolidated net profit is +29.1%. It is based on the growth of the private equity subsidiary CATP Expansion and the increase in the value of hedging swaps.
The solvency ratio of 27.3% (regulatory requirement of 10.5%) is a guarantee of financial solidity and the ability to support regional projects. The liquidity ratio (LCR) at December 31, 2022 was 116% for a regulatory requirement of 100%.
Dividend
The Board of Directors will propose to the General Meeting a dividend of 3.28 euros per Cooperative Investment Certificate (CCI), i.e. a yield of 5.7% based on the share price of 57.50 euros on December 30, 2022.
Outlook
The year 2022 was marked by the launch of the new Company project “Together 2025”, the result of a collective approach, which aims to support all transitions, energy and societal, and all customers. Crédit Agricole de la Touraine et du Poitou will continue to rely on innovative long-term approaches based on competent and committed employees. It will thus continue to act for the territory and to strengthen social cohesion, in particular with the support of associations and partners which exceeded 2 MRs over the financial year, integrating this year international solidarity for Ukrainians and support for students with the creation of the Crédit Agricole de la Touraine et du Poitou scholarship.