BFCM - 2024 Half-Year results press release

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July 31, 2024 12:22 PM EDT

Results for the six-month period ended June 30, 2024

Press release

Wednesday, July 31, 2024

Results for the six-month period ended June 30, 2024	1^st half 2024	Change H1 2024 / H1 2023
NET REVENUE UP DESPITE STRONG PRESSURE ON THE MARGIN	€6.178bn	+3.9%
of which retail banking of which specialized business lines	€4.159bn €1.491bn	-0.9% +8.2%
INCREASE IN GENERAL OPERATING EXPENSES REFLECTING STRATEGIC INVESTMENTS	-€3.208bn	+3.6%
INCREASE IN COST OF RISK LINKED TO THE ECONOMIC ENVIRONMENT	-€799m	+32.4%
NET INCOME UP AND KEPT AT A HIGH LEVEL	€1.714bn	+2.1%

GROWTH IN FINANCING
Home loans €120.4bn +2.8%	Equipment loans and leasing €115.2bn +4.2%	Consumer credit €46.1bn +2.9%

A SOLID FINANCIAL STRUCTURE
CET1 ratio ¹ 18.5%	Shareholders' equity €43.7bn
¹ Ratio estimated at June 30, 2024 for Crédit Mutuel Alliance Fédérale which includes BFCM in its scope of consolidation. The integration of earnings into shareholders’ equity is subject to approval by the ECB. Unaudited financial statements – limited review currently being conducted by the statutory auditors. The Board of Directors met on July 31, 2024 to approve the financial statements. All financial communications are available at www.bfcm.creditmutuel.fr and are published by Crédit Mutuel Alliance Fédérale in accordance with the provisions of Article L. 451-1-2 of the French Monetary and Financial Code and Articles 222-1 et seq. of the General Regulation of the French Financial Markets Authority (Autorité des marchés financiers - AMF).