CIC at June 30, 2019: A multiservice strategy underpinned bu sustained sales growth, growth in net banking income
Published on 30/06/2019
CIC posted good sales performances in the first half of 2019 in all aspects of its retail banking business: banking, insurance, mobile phone services, remote surveillance, etc. This momentum, combined with good growth in income from capital markets activities, private banking and corporate banking, enabled it to achieve a 2.7% increase in net banking income to €2.671 billion.
At the service of the regional economies, CIC is continuing, through its five regional banks and its network in Ile-de-France, the development announced as part of ensemble#nouveau 2019-2023, the Credit Mutual Alliance Fédérale’s strategic plan. This plan focuses particularly on developing new technologies that enhance customer relations. Thanks to its innovative strength, CIC offers products tailored to the new needs and uses of today's world. It draws on its nationwide network of 1,895 branches and nearly 20,000 employees to offer its 5.2 million customers the best possible relationship, whether through physical or digital channels. Proof of this commitment can be seen in CIC's number 1 ranking in this year’s banking sector Customer Relations Awards organized by BearingPoint – Kantar TNS. This recognition of service quality highlights in particular the group’s ability to provide simple, relevant and attractive digital tools at the same time as maintaining high-quality in-branch relations.
In terms of activity, the results recorded reflect the strong mobilization of the staff to achieve the goals set in the strategic plan, innovations to provide businesses with the nest possible support by simplifying loan approval processes (transition loans) and the group’s investment in the area of training. Total savings grew by 3.1% to €366.7 billion, loans grew by 3.6% to €368.3 billion and the number of insurance contracts increased by 5.2% to 5,506,160. Telephone services contracts grew by 4% and theft protection services by 4.5%.
This dynamic sales momentum contributed to increases in market share which rose to 6% in deposits and 6.5% in loans, up by respectively 0.04 point and 0.05 point.