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    Pierre Chedeville • CIC (Crédit Industriel et Commercial)

    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership

    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership • Q1 2025

    Question

    Pierre Chedeville of CIC Market Solutions asked about the progress of the Crédit Agricole Transitions & Energies and Health & Territories divisions, and inquired about LCL's strategic positioning on home loans amidst a highly competitive market where peers are either accelerating or retrenching.

    Answer

    Executive Jerome Grivet described the new divisions as successful first steps, with operational entities created and selling services, though their financial impact is not yet material. He emphasized that LCL is neither accelerating nor retrenching from the home loan market. The bank avoids a 'stop-and-go' policy, viewing home loans as a crucial part of a long-term, comprehensive client relationship rather than a product to be optimized for short-term profitability.

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    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership • Q1 2025

    Question

    Pierre Chedeville asked for an assessment of the new Crédit Agricole Transitions & Energies and Health & Territories divisions and inquired about LCL's competitive strategy for home loans.

    Answer

    Executive Jerome Grivet described the new divisions as successful first steps with operational activities underway, though not yet financially significant. Regarding home loans, he emphasized that LCL avoids a 'stop-and-go' approach, viewing the product as a key part of a long-term client relationship rather than optimizing for short-term profitability, thus maintaining a consistent market presence.

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    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership • Q4 2024

    Question

    Pierre Chedeville asked about the progress of the P&C insurance business with SMEs, the link between Amundi's growth in Asia and other business lines like CACIB, and for details on the macro hedging impact on LCL's net interest margin.

    Answer

    Executive Jerome Grivet noted that developing the SME insurance business takes time but is progressing as planned. He confirmed strong cooperation in Asia between entities like Amundi and CACIB to support mutual growth. For LCL, he explained the NII decrease was due to falling short-term rates impacting swap portfolio returns, but expects the overall NII to stabilize and slightly increase in 2025 due to other positive factors.

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    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership • Q2 2024

    Question

    Pierre Chedeville of CIC Market Solutions asked for details on the consumer credit production decrease in China, the specific contribution of technical factors to insurance revenue, and the scope of 'international' creditor insurance.

    Answer

    Executive Jerome Grivet explained the weakness in the China JV was due to a partner-specific slowdown, competition from leasing, and weak general consumption. He could not quantify the exact impact of operating variance on insurance revenue but noted it was partially offset by negative market movements. He clarified that 'international' creditor insurance is a pan-European business run from Dublin supporting consumer finance across the continent.

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    Pierre Chedeville's questions to Credit Agricole SA (CRARY) leadership • Q1 2024

    Question

    Pierre Chedeville inquired if the impressive growth in protection insurance premiums was due to specific commercial actions or broader market trends. He also asked if the quarterly cost of risk was impacted by specific large files, similar to peers.

    Answer

    Executive Jerome Grivet confirmed that the strong growth in protection insurance is the result of a long-term strategy and sustained commercial efforts, particularly in the group policies segment which is still ramping up. He also confirmed that, like other banks, the cost of risk for the quarter was impacted by some 'specific files,' which are part of the normal course of business for a large banking group.

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