Bank. Crédit Mutuel results at historic level
The Crédit Mutuel Alliance Fédérale* presented its half-year results this Thursday in Strasbourg. These figures show an increase in net banking income to over 8.5 billion euros (+1.8% compared to 2021). In particular, the private customer business jumped by 7.4% to 4.2 billion euros. At EUR 2.1 billion, net income stabilized at the highest level in its history.
Its President, Nicolas Théry, did not hide his satisfaction at this achievement, which he had achieved in a difficult economic and international environment. He reiterated to the financial press his desire to continue the development of the mutualist group that joined Crédit Mutuel Nord Europe on January 1st, after the central associations Crédit Mutuel Antilles-Guyane and Crédit Mutuel Massif merged in 2020 to form the Credit Mutuel Alliance Federale.
“Reinforce our solidarity actions”
“During the first half of the year, we have been able to increase engagement with our elected officers and staff to meet the expectations of members and customers and society, particularly those most affected by the price increase. Our results are a promise for the future, to strengthen our solidarity actions, our commercial and technological innovations and to accelerate the ecological transformation of the economy,” he stressed, betting both on the use of artificial intelligence in their working methods and on their strengthening his ” Dedicated Advisor” mechanism for each client.
The shift in mortgages
After a year of 2021 at the service of economic recovery, the Bank reinforced its mobilization in the first half of 2022, sharply increasing its lending to individuals, professionals and companies of 37 billion euros (+8.6% of outstanding loans). . However, for the remainder of 2022 and beyond, concerns remain about mortgage production, the rate of attrition and rising interest rates, making lending significantly more difficult.
“These results reflect the group’s ability to adapt in the face of an unprecedented crisis in Europe, the return of high inflation and a pervasive pandemic,” analyzes CEO Daniel Baal, insisting on the company’s solidarity and sustainability.
The two bosses also did not fail to point out that their insurance industry is attracting a lot of attention as the number of claims – particularly those related to hail – has exploded in recent months.
*Crédit Mutuel Alliance Fédérale, the main shareholder of the EBRA group to which your newspaper belongs, is made up of 14 Crédit Mutuel federations, CIC and its five regional banks, and all the group’s subsidiaries, including EuroInformation and Cofidis.