Q3 2021 Credit Agricole SA Earnings Call Transcript
Good afternoon, all of you. It's a pleasure for me to walk you rapidly through the document we've published this morning and to present you the main features of our results.
Let me go directly to Page 4, where you have the main figures related to Crédit Agricole Group globally. You can see that for this quarter, we post a net profit of around EUR 2.2 billion, both on a stated basis and an underlying basis as well. It's an increase of 25% on a stated basis, plus 15.6% on an underlying basis. For the first 9 months of the year, the net profit is EUR 6.7 billion on a stated basis and EUR 6.2 billion on an underlying basis.
Maybe 3 additional comments on this page. First, you can see that this quarter, the difference between underlying and stated is very tiny. Second point, this high level of profit, which is a record high level actually for a period of 9 months, is reached, again, I would say, for the same virtuous mechanisms, i.e., an increase in the top line, generating a strong and solid increase in the gross operating income and a significant decrease in the cost of risk.
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