CA Auto Bank, owned by Crédit Agricole Personal Finance & Mobility, has reported a net profit of €260m ($295.04m) in 2024, down 35% year-on-year (YoY).
The bank’s average loan and lease portfolio reached €28.04bn, with non-captive brands making up 82% of total assets.
The lender reported a 16% decline in operating income compared with 2023, totalling €390m. Its net banking income and rental margin increased by 2% YoY to €833m.
Production volumes also saw a 9% rise, with end-of-period loans and leases amounting to €29.8bn.
The share of non-captive brands in the portfolio increased from 64% in 2023 to 86% in 2024.
CA Auto Bank’s mobility division Drivalia reported a 46% YoY growth in its rental and mobility portfolio, reaching €3.6bn.
Operating costs rose by €53m, a 21% increase, due to investments such as the launch of the new CA Auto Bank brand and Drivalia’s European expansion.
CA Auto Bank diversified its funding sources, returning to capital markets and securing new credit lines, with Crédit Agricole Group contributing 34% of total funding.
The bank’s supervisory capital was at approximately €4bn.
The CET1 Ratio was 12.46%, and the total capital ratio stood at 16.58%.
A 65-basis-point dip in the latter was due to regulatory changes requiring the consolidation of rental companies, partially offset by retained earnings and new capital from the shareholder.
Last year, CA Auto Bank’s financing for electric and hybrid vehicles rose to 45.8%, while pure electric vehicles accounted for 34.8%.
Drivalia’s fleet of low-emission vehicles reached 22%, and its European charging network expanded to 1,897 stations.
By year-end, 83.4% of financing agreements were signed electronically, streamlining operations and reducing paper use.
Collaborations with startups dedicated to sustainable transport rose by 25%.
On the environmental and social fronts, CA Auto Bank now has 33% of its corporate fleet fully electric, and 76% comprised of either battery-electric vehicles or plug-in hybrid electric vehicles.
“CA Auto Bank reports 35% drop in net profit for 2024” was originally created and published by Motor Finance Online, a GlobalData owned brand.
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