The level of outstanding loans from Crédit agricole du Languedoc increased by 1.6% over one year, to nearly 25.5 billion

The level of outstanding loans from Crédit agricole du Languedoc increased by 1.6% over one year, to nearly 25.5 billion

Daniel Connart (left) and Christian Rouchon (right), respectively president and general manager of Crédit agricole du Languedoc. Despite an “adverse” economic context, the regional bank is posting good results for 2023.

Despite an "adverse" and a complicated situation in the field of housing credit in particular, the mutual bank is showing good results for 2023.

Despite an economic situation "adverse", Crédit agricole du Languedoc concluded the’year 2023 with positive results. This is the meaning of the message from Daniel Connart, its president, who has just presented the results of last year. The green bank thus recorded "47 000 new individual and professional customers", a sign of a "strong dynamism", in a "macroeconomic context marked by high inflation and low growth"< /em>.

If it was only necessary to retain one figure to illustrate the good performance of the activity of the mutual bank, present in four departments (Hérault, Gard, Aude and Lozère), that is ;is the volume of collections outstanding. They amounted to 33.7 billion in 2023, up 3.1%. This allows CAL to claim its place as the leading regional bank with 34.4% market share at the end of September 2023.

A "collapse in housing credit demand in the second half"

Like other financial institutions, the main focus of its communication is its ability to respond to credit requests, particularly in terms of housing. "Housing is our main factor of concern", insists Christian Rouchon, general director. It recalls the annus horribiliswhat 2023 will have been in terms of housing. The crisis had repercussions on the bank’s activity, with a "collapse in the second half of housing credit between  -40 % to – 45 %".

L’L’L’L’Crédit agricole du Languedoc, which reminds, through the voice of its directors, that its job is to "lend money& rsquo;money and finance the regional economy, nevertheless granted a little more than 1.5 billion credits to housing (for a total outstanding amount of 15.25 billion credits for housing). "It’it’is not the supply of credits that has stopped, it’s the demand", insists Christian Rouchon.

Investment in renewable energies

Another activity that is on the rise: insurance. Since the start of the year, the bank has recorded 25,000 additional contracts, establishing its portfolio of property and personal insurance at 705 ;000 contracts at the end of 2023". But there is one universe on which it is banking a lot, namely renewable energies. "We are in a region conducive to this dynamic, insists Daniel Connart.

"This will concern everyone", adds Christian Rouchon, who recalls that their development "will require a lot of capital". The Crédit agricole group will mobilize, on a national level, 600 million euros through its various funds regional, to finance the development of renewable energies. The Languedoc regional fund will make its contribution, through an envelope of 16 million euros.

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