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    ACA   FR0000045072

CRÉDIT AGRICOLE S.A.

(ACA)
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Credit Agricole S A : Crédit Agricole Group Financial statements - 30 June 2022

08/10/2022 | 07:20am EDT

Crédit Agricole Group

Statutory auditors' review report on the condensed half-yearly consolidated financial statements of Crédit Agricole Group

(Period from January 1 to June 30,2022)

PricewaterhouseCoopers Audit 63, rue de Villiers

92208 Neuilly-sur-Seine Cedex, France French simplified joint-stock company (société par actions simplifiée)

with capital of € 2 510 460 RCS: Nanterre 672 006 483

Statutory Auditor

Registered with the Versailles and Centre Institute of Statutory Auditors

ERNST & YOUNG et Autres Tour First

TSA 14444

92037 Paris-La-Défense cedex, France French simplified joint-stock company (société par actions simplifiée)

with variable capital

RCS: Nanterre 438 476 913

Statutory Auditor

Registered with the Versailles and Centre Institute of Statutory Auditors

Statutory auditors' review report on the condensed half-yearly consolidated financial statements of Crédit Agricole Group

For the period from January 1 to June 30,2022

Crédit Agricole S.A.

12, place des Etats-Unis

92127 Montrouge Cedex, France

This is a free translation into English of the statutory auditors' review report on the half-yearly financial information issued in French and is provided solely for the convenience of English-speaking users. This report includes information relating to the specific verification of information given in the Group's half-yearly management report. This report should be read in conjunction with, and construed in accordance with, French law and professional standards applicable in France.

To the Chief Executive Officer,

In our capacity as Statutory Auditors of Crédit Agricole S.A. and further to your request, we have performed a review of the accompanying condensed half-yearly consolidated financial statements of Crédit Agricole Group for the period from 1st January to 30th June 2022.

As stated in the note "General framework" to the financial statements, the condensed half-yearly consolidated financial statements of the Crédit Agricole Group reporting entity, which constitutes a network with a central body, are prepared on the basis of a community of interests encompassing all the Local Banks, the Regional Banks and the "Crédit Agricole S.A." central body.

These condensed half-yearly consolidated financial statements were prepared under the responsibility of Management.

We conducted our review in accordance with professional standards applicable in France and the professional guidance issued by the French Institute of Statutory Auditors (Compagnie Nationale des Commissaires aux Comptes) relating to this engagement. A review of half-yearly financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with professional standards applicable in France and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed half-yearly consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34- standard of the IFRSs as adopted by the European Union applicable to half-yearly financial information.

Neuilly-sur-Seine and Paris-La Défense, 5th August 2022

The statutory Auditors

PricewaterhouseCoopers Audit

ERNST & YOUNG et Autres

Agnès Hussherr

Olivier Durand

Consolidated financial statements of the

Crédit Agricole Group -

30 June 2022

CRÉDIT AGRICOLE GROUP

Consolidated financial statements of the Crédit Agricole Group

30 June 2022

SUMMARY INTERIM CONSOLIDATED FINANCIAL STATEMENTS

AT 30 JUNE 2022

Reviewed by the Board of Directors of Crédit Agricole S.A. on 3 August 2022

1

Consolidated financial statements of the

Crédit Agricole Group -

30 June 2022

CONTENTS

GENERAL FRAMEWORK....................................................................................................................................................

4

CREDIT AGRICOLE GROUP..................................................................................................................................

4

CONSOLIDATED FINANCIAL STATEMENTS.......................................................................................................................

5

INCOME STATEMENT ............................................................................................................................................

5

NET INCOME AND OTHER COMPREHENSIVE INCOME ......................................................................................

6

BALANCE SHEET ASSETS .......................................................................................................................................

7

BALANCE SHEET LIABILITIES ..................................................................................................................................

8

STATEMENT OF CHANGES IN EQUITY...................................................................................................................

9

CASH FLOW STATEMENT ....................................................................................................................................

11

NOTES to the consolidated financial statements........................................................................................................

14

NOTE 1

Group accounting policies and principles, assessments and estimates applied ..................

14

NOTE 2

Major structural transactions and material events during the period ......................................

19

2.1

Information concerning the scope of consolidation as at 30 June 2022 .....................................

19

2.2

Main changes in the scope of consolidation .................................................................................

22

2.3

Exceptional dividends from Crédit Agricole Assurance to Crédit Agricole SA............................

22

2.4

Impacts related to the Russia/Ukraine war .....................................................................................

23

NOTE 3

Credit risk .......................................................................................................................................

24

3.1

Change in carrying amounts and value corrections for losses over the period .........................

27

3.2

Exposure to sovereign risk .................................................................................................................

34

NOTE 4

Notes on net income and other comprehensive income.........................................................

37

4.1

Interest income and expenses .........................................................................................................

37

4.2

Fee and commission income and expenses ..................................................................................

37

4.3

Net gains (losses) on financial instruments at fair value through profit or loss .............................

38

4.4

Net gains (losses) on financial instruments at fair value through equity.......................................

40

4.5

Net gains (losses) arising from the derecognition of financial assets at amortised cost.............

40

4.6

Net income (expenses) on other activities .....................................................................................

40

4.7

Operating expenses..........................................................................................................................

41

4.8 Depreciation, amortisation and impairment of property, plant & equipment and intangible assets 41

4.9

Cost of risk ..........................................................................................................................................

42

4.10

Net gains (losses) on other assets.....................................................................................................

42

4.11

Income tax .........................................................................................................................................

43

4.12

Changes in other comprehensive income .....................................................................................

44

NOTE 5

Segment information ....................................................................................................................

46

5.1

Operating segment information ......................................................................................................

49

5.2

Specific characteristics of insurance ...............................................................................................

51

NOTE 6

Notes to the balance sheet..........................................................................................................

55

6.1

Financial assets and liabilities at fair value through profit or loss...................................................

55

6.2

Financial assets at fair value through other comprehensive income...........................................

56

6.3

Financial assets at amortised cost ...................................................................................................

58

6.4

Financial liabilities at amortised cost ...............................................................................................

60

6.5

Non-current assets held for sale and discontinued operations.....................................................

61

6.6

Investment property ..........................................................................................................................

62

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Crédit Agricole SA published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 11:19:18 UTC.


© Publicnow 2022
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