Crdit Mutuel Arka, bringing together 2 of the 18 funds of the Crdit Mutuel group and several subsidiaries, published on Thursday a net result down 37% for 2023, 417 million euros, penalized by a particularly adverse economic and financial context.
The group’s general director Hlne Bernicot highlighted to AFP less favorable financing conditions from the European Central Bank (ECB) last year and a narrowed margin in retail banking.
All French banks saw their credit margin erode last year, due to the rise in interest rates, and had to reach into their portfolios to better remunerate savings, Livret A in the lead. .
Ms. Bernicot also points to a high basis of comparison after very good 2022 results, driven by private equity activity.
The revenues of the two retail banks in the South-West and Brittany, associated with several businesses such as asset management, insurance, online banking (Fortuneo) or services from other banks (Axa bank, CCF, Louvre private bank…), reached 2.14 billion euros last year, 11% less than in 2022 accounting basis.
The mutual group, whose headquarters is Le Relecq-Kerhuon near Brest and which adopted mission company status in May, has estimated its environmental and social footprint at 9.4 billion euros, stable over one year.
Using 25 environmental or socio-economic indicators, the bank measures the positive and negative impact of its actions on its members, customers, suppliers and employees, as well as its direct footprint.
The year 2023 will have been marked by the calming of relations with the enemy brothers of Crdit Mutuel Alliance fédérale, whose president Nicolas Théry also announced his departure on Tuesday.
We are learning to work together again, underlined the deputy general director of Arka Anne Le Goff, with among the collective challenges the defense of our model with European authorities.
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