Crédit Agricole’s profit fell by 10.5% in 2022 to €8,144 million

By: News Team

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Crédit Agricole

Crédit Agricole (EPA:CAGR) had 8,144 million euros of profits last year, a fall of 10.5% compared to 2021 that the French bank partly attributed to several non-recurring items.

In the statement presenting its results, Crédit Agricole said that its 2021 accounts had integrated 473 million euros of exceptional items, and that if it is removed from that, the fall in its profits would have been limited to 5.6%.

The gross operating result (ebitda) decreased by 0.2% to 13,709 million.

That has to do with the fact that while revenues increased by 3.6% to 38,162 million euros, cargoes grew at a higher rate, by 4.6% to 23,650 million.

Crédit Agricole ended 2022 with a solvency level of 17.6% measured in CET1, an improvement of 40 basis points in the last quarter.

Its liquidity reserves were, as of December 31, 467,000 million euros, that is, 2,000 million more than a year earlier.

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