Groupe Auchan: Oney Banque Accord grew in 1st half of 2015 in spite of economic and regulatory effect
Croix Cedex, France, 2015-8-31— /EPR Retail News/ — On 30 June 2015, Oney Banque Accord had stable Net Banking Income compared to the previous financial year, at €190 million (+0.3%). The French subsidiary stood up well in spite of economic and regulatory effects, thanks to significant investment to support innovation and the development of new services and good control of risk and expenses. We note that the international subsidiaries were very dynamic, particularly Spain and Portugal.
Credit production increased by 1.3% to reach €1.1 billion. At the same time, Oney Banque Accord continued to improve the control of its risks: the risk rate on outstanding business thus reached 2.8% (against 3.3% in the 1st half of 2014). Net earnings increased by 1.4% to €24.3 million, against €24.0 million on 30 June 2014. The Basel III solvency ratio (before dividend distribution) was brought to 15.41%, a clear improvement (14.22% pro forma 1st half 2014).
“We are delighted by the interest aroused by our innovations in France and abroad. These results encourage us to continue in this direction and provide still more support to retail players in redefining their customer experiences, to adapt to new practices. Our new strategy is now bearing fruit, enabling us to grow and have greater financial stability”, says Jean-Pierre Viboud, Managing Director of the Oney Banque Accord group.