CA Auto Bank reports 35% drop in net profit for 2024

CA Auto Bank, owned by Crédit Agricole Personal Finance & Mobility, has reported a nett net of €260m ($295.04m) successful 2024, down 35% year-on-year (YoY).

The bank's mean indebtedness and lease portfolio reached €28.04bn, with non-captive brands making up 82% of full assets.

The lender reported a 16% diminution successful operating income compared with 2023, totalling €390m. Its nett banking income and rental borderline accrued by 2% YoY to €833m.

Production volumes besides saw a 9% rise, with end-of-period loans and leases amounting to €29.8bn.

The stock of non-captive brands successful the portfolio accrued from 64% successful 2023 to 86% successful 2024.

CA Auto Bank’s mobility part Drivalia reported a 46% YoY maturation successful its rental and mobility portfolio, reaching €3.6bn.

Operating costs roseate by €53m, a 21% increase, owed to investments specified arsenic the motorboat of the caller CA Auto Bank marque and Drivalia’s European expansion.

CA Auto Bank diversified its backing sources, returning to superior markets and securing caller recognition lines, with Crédit Agricole Group contributing 34% of full funding.

The bank's supervisory superior was astatine astir €4bn.

The CET1 Ratio was 12.46%, and the full superior ratio stood astatine 16.58%.

A 65-basis-point dip successful the second was owed to regulatory changes requiring the consolidation of rental companies, partially offset by retained net and caller superior from the shareholder.

Last year, CA Auto Bank’s financing for electrical and hybrid vehicles roseate to 45.8%, portion axenic electrical vehicles accounted for 34.8%.

Drivalia’s fleet of low-emission vehicles reached 22%, and its European charging web expanded to 1,897 stations.

By year-end, 83.4% of financing agreements were signed electronically, streamlining operations and reducing insubstantial use.

Collaborations with startups dedicated to sustainable transport roseate by 25%.

On the biology and societal fronts, CA Auto Bank present has 33% of its firm fleet afloat electric, and 76% comprised of either battery-electric vehicles oregon plug-in hybrid electrical vehicles.

"CA Auto Bank reports 35% driblet successful nett net for 2024" was primitively created and published by Motor Finance Online, a GlobalData owned brand.

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