Main highlights
- Grupo Crédito Agrícola's consolidated results in the first nine months of 2021 stood at 129.0 million euros, representing year-on-year growth of 85.6%, with the banking business contributing 115.1 million euros, corresponding to a year-on-year growth of 103.5%.
- Grupo Crédito Agrícola’s portfolio of (gross) loans and advances to customers grew 5.8% over the last 12 months to 11.7 billion euros, demonstrating the continued commitment to support economic recovery in these challenging times.
- The quality of Grupo Crédito Agrícola’s credit portfolio remains a priority and, in September 2021, gross Non Performing Loans (NPL) ratio stood at 7.6%, a favourable evolution compared with 8.1% at the end of 2020.
- After the end of the legal period of moratoria at the end of September, the amount in moratoria was reduced by 86.8% from 2,767 million euros to 365 million euros. Out of the total moratoria expired, in the amount of 2,679 milion euros, 98.95%are back on the original payment plan, while 87.7% are performing (stages 1 and 2).
- Grupo Crédito Agrícola has a comfortable solvency level, as evidenced by CET1 and total own funds ratios of 17.6% (excluding net income for the period), a leverage ratio of 8.2% and a LCR ratio of 397.6%, all with considerable leeway in relation to the minimum recommended levels.
- Recently, Grupo Crédito Agrícola carried out its first bond issuance in the international market, through senior preferred debt securities linked to Social Sustainability. The 300 million euros issue was rated "Ba2" (stable Outlook) by Moody's Investor Services and enables the Group to exceed the binding intermediate target of the MREL TREA requirement to be met on 1 January 2022, with an estimated 175 bp surplus.
- Crédito Agrícola was considered, by The Banker's magazine in October 2021, the Best Performer Bank in Portugal, particularly in parameters such as growth, profitability, asset quality and liquidity.
- Caixa Central de Crédito Agrícola received a Baseline Credit Assessment (BCA) rating of Ba1 from Moody's. The BCA rating is complemented by the following ratings: Baa3 Stable Outlook / P-3 deposits, Counterparty Risk Rating (CRR) of Baa2/P-2, Counterparty Risk Assessment of Baa1(cr)/P-2(cr).
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