Half-year Financial Results of Crédit Agricole Atlantique Vendée as of June 30, 2024

Crédit Agricole Atlantique Vendée continues its development despite a slow economic situation. The Board of Directors examined the half-year accounts as of June 30, 2024, revealing resilient commercial activity with 1.6 billion euros in loans granted and an increase in outstanding loans of +1.1%.

Collections increased by +1%, with a sharp increase in term deposits (+17%). However, results are under pressure, in particular due to a drop in the intermediation margin (-33.0%) and an increase in the cost of risk (+163.2%). Consolidated net profit stood at 66.8 million euros, down 7.7% compared to June 2023.

The financial fundamentals remain solid with a level of prudential capital of 2,251.8 million euros and a solvency ratio of 24.73%. The LCR liquidity ratio reaches 116.56%, and equity represents 12.20% of the balance sheet.