Crédit Agricole S.A.’s 2022 Medium-Term Plan

Thursday 06 June 2019

Financial Communication

On Thursday 6th June, Crédit Agricole S.A. published its 2022 Medium-Term Plan in line with Amundi’s strategic ambitions announced in February 2018.



The main objective for Amundi mentioned in this Medium-Term Plan remains unchanged : to be among the global leaders in the asset management industry, thanks to:

  • the quality of the expertise and services it offers to its clients;
  • its strong growth and profitability trends;
  • its position as a committed financial player, in line with the three-year action plan on Responsible Investment , announced in October 2018.


Furthermore, Amundi’s financial targets for the period of the new Plan are as follows:

  • An average annual adjusted net income growth target1 of +5%2 between 2018 and 2022;
  • A cost/income ratio of 53%1 or less.

These financial objectives3 allow Amundi to confirm its 2020 profitability targets 4

  • accounting net income ≥ €1bn,
  • adjusted net income ≥ €1.05bn.


In addition, the dividend payout ratio will continue to be at 65%5.


More about Crédit Agriole S.A. 


1. Excluding amortisation of distribution contracts and, in 2018, excluding integration costs

2. Compared to 2018 adjusted net income, Group share, of €946m. This adjusted net income, Group share, excludes amortisation of distribution contracts and, in 2018, integration costs.

3. All of these objectives assume a neutral market effect over the period of 2018-2022

4. Press release of 9 February 2018.

5. Dividend payout ratio calculated using net income group share after amortization of distribution contracts