2020 Half-year results press release

In the first half of 2020, CIC faced a crisis that simultaneously affected public health, the economy and society. It responded quickly, prudently and responsibly to protect both its employees and its retail and business customers and remain open for business in the interests of all. CIC serves the economies of the regions through its five regional banks and its branch network in the Île-de-France. With nearly 1,900 branches spread across the whole of France, it is a key player in business financing. Under the effects of the crisis, CIC posted a net profit of €230 million for the first half of 2020, down 68.7%. This drop is due in particular to the 11.2% decrease in net banking income (to €2.372 billion) and the substantial increase in net additions to provisions for loan losses, which were up 182.4% at €370 million for the first half-year.