Crédit Agricole Group in Italy. Milan, 21 January 2010

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1 Crédit Agricole Group in Italy Milan, 21 January 2010

2 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 2

3 Italy: the second biggest domestic market for CASA Long lasting presence but recent organisation as majority shareholder The overall Italian framework represents 17% of NBI of Crédit Agricole S.A. in the first half of % of FTE of Crédit Agricole S.A. 7.6 millions of customers over 58 millions for Crédit Agricole Group 60bn of risk weighted assets = 18.4% of total RWA of Crédit Agricole S.A. 10 to 20% of Crédit Agricole S.A. Group depending on the indicator Cultural similarities with Crédit Agricole Foundations Geographical proximity Parallel to the Regional Bank model 3

4 A long lasting presence in Italy All business lines are present, following organic development, acquisitions and partnerships 1970s 1980s 1989 to CIB: Consumer credit: Retail banking: Insurance: 1971: acquisition of Banca di credito di Milano by Banque de Suez and Union des Mines (creation of Banque de Suez Italia), renamed after 1976: Banque Indosuez Italia and in 2004 : Calyon 1997: CNCA brings its Italian operations 1978: Crédit Lyonnais branch in Milan Agos (Sofinco) + Ducato (2008) + FGA Fiat Group Auto (2006) 1989: part. in Banco Ambrosiano Veneto (BAV) by CNCA 1998: Banca Intesa (BAV + Cariplo and in 2001: + BCI) Since March 2007: Majority share in Cariparma and FriulAdria + 5.8% participation in Intesa San Paolo CA Vita absorbs PO Vita (Cariparma) CA Assicurazioni Factoring: Eurofactor Italia Leasing: CA Leasing Italia Asset management: 1977: launch of asset management by Indosuez Insurance: 1996: CA Vita Private equity: CA Private Equity Italia Since 2008: CAAM SGR from Nextra C3A (fund dedicated to the food-industry sector) 4

5 All business lines are present Development strategy replicating Crédit Agricole Group model relying on Strong local roots Two well-known regional brands and a presence in the centre and the South Quick integration thanks to a very good local management on an efficient operating platform, mutualised for the network and enabling potential future developments Development of Group business lines to serve the networks Today all business lines are present in the country Contribution of business lines to net income Group share (H1-09) Asset management and insurance 8% CIB 24% Specialised financial services 21% Networks 47% 5

6 Strong presence in the North of Italy Decentralised headquarters FGA Cariparma CA Vita Torino Milano Parma Pordenone FriulAdria Crédit Agricole Assicurazioni Agos CAAM Calyon Eurofactor CAPE/C3A 6

7 Crédit Agricole: a major player in Italy In terms of size: 7th Italian banking group by size and 4th by result In terms of performance: leading position of Cariparma FriulAdria in profitability and capital ratios Return on weighted assets (NBI/ RWA) of 5% Income per employee (NBI / FTE) of approx. 200k among leading Italian banks Cost income ratio 54% in 2008, best in Italy Comfortable capital ratio (equity / RWA 13% end of 2008) Net income Group share H1-09 ( m) Cost/Income H1-09 (%) 1, ISP UCI MPS CA in Italy BP BNL Gruppo GCRP UBI BPM Carige BPV BPER CREDEM CA in Italy G CRP BPER ISP BPM UCI BNL Gruppo Carige BP MPS UBI BPV CREDEM Note: Data include extraordinary items (for example extraordinary gains) Operating charges include integration costs 7

8 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 8

9 A solid base in the North of Italy A Group with more than 1.4 million clients served through two different brands and a distribution network focused on the richest regions of Italy 4 main market segments (data at ): Retail: 725 retail branches Enterprises: 24 Centres Corporate: 6 Centres Private: 23 Centres Total: 780 points of sale Access to the richest areas of Italy (presence in 9 regions which represent 70% of Italian population and 76% of GDP) 80% of branches within a 250 km radius around Parma TO 41 CN 1 IM 4 VB 1 CO VC VA BG LC 2 BI NO BS MI LO CR 9 29 AT 1 SV 4 AL 13 PV 25 GE 5 PC 56 SP 1 PR 91 MN 17 RE 15 MS 1 LU 5 LI 1 PI MO 16 VR 1 BO 12 PT PO 1 2 GR 1 1 FE 2 FI 9 AR 2 SI 1 VI TV 7 24 PD 14 RO VT BL 3 PN 46 RI 1 RM 16 VE 35 LT UD 59 FR 2 TS 10 CE 14 NA 52 At % market share at a national level (% of branches) and 3.3% in the 52 covered provinces Parma: 25% of branches and 52% market share of deposits and obligations Piacenza: 25% of branches and 41% of deposits and oblig. Pordenone: 19% of branches and 38% of deposits and oblig. Market share > 10% Market share (branches) 2-10% Market share (branches) < 2% Next outlets CRP 9

10 An organisation strongly rooted in the local communities Fondazione Cariparma Crédit Agricole S.A. Crédit Agricole Regional Banks 15% 75% 10% 12,500 local shareholders 79% 21% Cariparma Foundation, that is assisting nearly all institutions and associations of Parma and its territory, with a philosophy helping to do more than do Local shareholders of FriulAdria Local entrepreneurs in the two Boards of Directors 10

11 A medium-sized very performing Group KPI at Ranking on the Italian market Size indicators Total outstanding* ( bn) Total balance sheet ( bn) Retail branches (n ) Employees (n ) 7,792 9 NBI ( m) Performance indicators Net Result ( m) Cost Income ratio (%) Capitalisation (Tier 1; %) Return (ROE; %) Credit quality (NPL / Credits; %) * Credit outstanding + balance sheet deposits + off balance sheet deposits 11

12 recognised in 2009 Italian rankings Lombard index: one of the two 5 stars banks in the ranking of Milano Finanza among major banking groups Confirmation of the 1st place in the Ranking of large Italian Banking Group of Banca Finanza 12

13 A dynamic Group serving all customers Cariparma FriulAdria Group Individuals clientele Corporate clientele Number of clients (thds) Clientele segment (wealth) Clientele segment (turnover) Number of clients (thds) 10.9 Private (> 500,000) Corporate (> 70m) Premium ( 100, ,000) Entreprises ( 2,5m- 70m) ,011.3 Households (Up to 100,000) Professionals (Up to 2,5m) Total Clients: ~ 1,426,500 Retail Entreprises Corporate Private 13

14 A dynamic Group serving all customers Loans to the clientele ( bn) On balance sheet deposits ( bn) Off balance sheet deposits ( bn) +8.3% Mkt +1.7% +10.1% Mkt +8.7% +8.2% Mkt n.d Structure of loans outstandings by clientele in Sept 09 SME and SMI 20% Corporate 14% Professionals 29% Households 37% Retail clientele 66% 14

15 15 A new governance based on a multi-regional model of autonomous banks and a shared platform of central functions Chairman Managing Director Common holding company - Control and audit functions - Central and coordination functions - IT systems and back office - Centre/South - North/West Two autonomous commercial Banks Cariparma Bank Group Factories FriulAdria Bank Group Central Functions - North/East A multi-regional model that maintains the commercial autonomy of the banks in their regions Sharing of resources in a virtual holding company, within Cariparma to provide: - Operational platform - Support functions - Audit and risk functions incorporated within the business lines of Crédit Agricole Group A quick connection of the Cariparma FriulAdria Group to factories of Crédit Agricole

16 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 16

17 Specialised financial services: major players Two major players in consumer credit: Agos Ducato and FGA Capital in the top 10 of consumer credit players Market share in production of consumer credit in 9m-09 (%) Agos Ducato Unicredit Family Financing Deutsche Bank - Prestitempo Findomestic Gruppo Compass Santander Consumer Bank Neos Finance e Moneta Banca24-7/SILF - Gruppo UBI FGA Capital Consum.it Calit: 11 th player in Italy in leasing business at end September 2009 Eurofactor Italia: launch of the activity in

18 A leading position in consumer credit Business overview The joint-venture between Crédit Agricole S.A. Group (61%) and Banco Popolare (39%) around Agos and Ducato gave birth to the leader with a market share of 15.5%* Other players have less than 10% market share Distribution network Covering all Italian regions and mostly the South Little overlapping with Cariparma and FriulAdria networks 252 wholly-owned branches Exclusive partnership agreement with the banking networks of Banco Popolare, Cariparma and FriulAdria 723 via Cariparma and FriulAdria 2,116 via Banco Popolare Combined network > 10% > 5% - 10% < 5% Wholly-owned network: 252 branches Partner retail networks: 2,839 branches * 9 months

19 A dynamic player present in all segments Market segments m Breakdown of 2008 production Key figures as at June 2009 Other financial loans, 1091 Credit cards, 1427 Auto, 1848 Overdraft, 154 Personal loans, million clients m H1-09 Net banking income 442 Gross operating income 280 Net income 55 A dynamic player Production: 6.48bn (-3.8% YoY) vs -12.2% for the market in the first 9 months of 2009 Agos Ducato has increased its market share in the first 9 months of 2009 to 15.5% Intermediation ratio 77% Total loans 19,700 * 9 months

20 FGA Capital: a strategic partnership between Casa and Fiat Highlights Joint-Venture 50/50: union of the commercial efficiency of an industrial partner (FGA) and of the risk control and financial strength of a banking partner (CASA), in a unique and innovating business model Group structure 100% 100% Multi branding: JLR and Chrysler have been added to FGA brands in % Fiat Group Automobile SpA 50% KPIs PORTFOLIO NET BANKING INCOME TIER 1 CAPITAL RATIO 15bn 15bn 16bn 500m 550m 580m 7.2% 8.2% 8.3% 20

21 A leading position in consumer credit Business overview FGA Capital operates in 15 European markets Leader in car financing in Italy Half of the activity of FGA Capital takes place in Italy Operating in 15 European markets Distribution network Strong relationship with Fiat Group Automobiles s and Chrysler s dealers and with Jaguar s and Land Rover s network through a long term commercial agreement 21

22 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 22

23 CIB: A platform completely integrated into Calyon s European operational set-up A commercial CIB platform integrated into Calyon s European operations A complete product base in capital markets (origination, sales, securitization ) Strong positions in structured finance (project, acquisition, real estate and aircraft finance) Corporate banking (cash management, asset, equity & debt finance) completed by Cheuvreux s set-up Research team of 7 analysts and economists: coverage of 88% of Italian listed companies Services provided to both retail and institutional customers A strong and diversified customer base Strong focus on large corporates (turnover>3 bn ) Selective business-picking on first and second Tier mid corporates (3 to 0.5 bn ) focused on a territorial approach Strong presence on financial institutions Selective coverage of the public sector Key figures as at June clients for Calyon and 490 for Cheuvreux m H1-09 Net banking income 98.3 Gross operating income 74.4 Net income 60.3 Cost-income ratio 32% Total loans 4,900 23

24 CIB : main deals 24

25 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 25

26 Life insurance: Credit Agricole Vita Credit Agricole Vita: a true success story 188,000 clients 7 th in bancassurance in Italy with a market share of 4.6% 11 th in life insurance (policy volumes) with a 3.1% market share 17% increase in revenues in 2008 compared to a 22% decrease for the Italian bancassurance market Strong positioning on a market which is still moderately concentrated and on which bancassurance historically represents 60% of all policies Number of active policies (thds) Ranking on the bancassurance market ( bn of funds collected in Q1-09) Sep Unicredit Intesa SP Poste MPS BNL UBI 7 CA Vita B.POP 26

27 Other insurance subsidiaries: promising development Credit Agricole Assicurazioni: positioned to take full advantage of market evolutions 16,900 car insurance policies sold in the first 9 months of ,200 home insurance policies sold in the first 9 months of 2009 Very positive reception from the market and end-users: Policy rated Number One in the Economy Review in February 2009 «Cerchio d Oro» Prize received, rewarding financial innovation Credit Agricole Credit Insurance (CACI): amongst the market leaders 204m of policies at end m collected in the first half of 2009 alone (+56.6% YoY) 27

28 Asset Management: CAAM SGR Business overview 273,000 clients The Italian market is still average-sized, representing a smaller proportion of savings than in most European countries, and with approx. half of AUMs held by domestic households CAAM SGR s activities were restructured in 2008 following the unwinding of the Nextra partnership 17.1bn AUM at end 2008 (4.2% market share) A leading position in savings management A presence further reinforced by the future SGAM merger A customer base of both institutional investors and distributors AUMs of 1.8bn booked with SGAM 9 month 2009 activity Assets end 2008 Intesa CA network Institutionals External distributors Performance effect Assets 30/09/09 28

29 Contents History of Crédit Agricole presence in Italy The second home market of the Group with local roots Cariparma FriulAdria Group Retail banking Agos, Ducato, FGAC, Calit and Eurofactor Italia Specialised financial services Calyon Corporate and investment bank CAAM Sgr and CA Vita - Asset management and insurance Building a major player in Italy 29

30 Building a major Group in Italy All business lines of Crédit Agricole are present in Italy to serve 7.6 million clients with the recognised expertise of an international Group Building and developing a major player strongly rooted in the regional markets of the North and centre of Italy with the support of international business lines and of an international Group 30

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