The Credit Agricole group in Italy recorded an aggregate net result of 1,310 million euros in 2023 (+19% year on year), of which 1,043 million pertaining to the Credit Agricole Group which achieved a profit of 8.3 billion.
Commercial activity continues to be dynamic, with total financing for the economy amounting to approximately 100 billion euros and total funding amounting to 331 billion euros.
Credit Agricole Italia, however, recorded a net profit of 708 million euros, up by +26.8% compared to the same period of the previous year which included costs for the bank deriving from the acquisition of Creval for 20 million euros and 146 million euros one-off tax realignment.
Excluding the impact of these non-recurring components, the change acquired for 2023 stands at +63.7% year-on-year.
Annual revenues exceeded 3 billion euros (+19% year-on-year), supported by the contribution of the interest margin (+37% year-on-year).
The operating result grew by 44% year on year with cost income standing at 52.4%.
Large liquidity buffer with LCR at 245% and solid capitalization with Common Equity Tier 1 Fully Loaded and Total Capital Ratio rising to 13.5%4 and 18.6% respectively.
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