CA Auto Bank reports €260 million net profit in 2024

CA Auto Bank has reported a solid financial performance for 2024, achieving a net profit of €260 million, driven by robust business volumes and continued strategic diversification. The result comes despite a drop in operating income compared to 2023, which had benefitted from exceptional gains linked to the end of the bank’s partnership with Stellantis.

The Group’s average loan and lease portfolio stood at €28 billion, with non-captive brands now accounting for a significant 82% of total assets — reflecting the bank’s strengthened positioning as a multi-brand and pan-European player in automotive and mobility financing.

Operating income for the year totalled €390 million, down from the previous year due to the absence of one-off gains. However, the Group’s net banking income and rental margin rose 2% year-on-year to €833 million, supported by expanding volumes and new business partnerships. This represented 2.97% of the average loan and lease portfolio.

Production volumes saw a healthy 9% increase, with end-of-period loans and leases reaching €29.8 billion. Notably, the share of non-captive brands in the portfolio surged from 64% in 2023 to 86% in 2024. Drivalia, the Group’s mobility arm, posted standout performance with its rental and mobility portfolio growing 46% year-over-year to €3.6 billion.

Operating costs increased by €53 million (+21%), reflecting strategic investments such as the launch of the new CA Auto Bank brand and Drivalia’s European expansion. Despite this, the Group improved efficiency, reducing its cost-income ratio to 37%, a 5.8 percentage point improvement from 2023.

The cost of risk rose slightly to €134 million, or 0.48% of the average portfolio, remaining stable in relative terms and demonstrating sound credit risk management amid growth.

On the funding side, CA Auto Bank continued to diversify its sources, returning to capital markets and securing new credit lines. The Crédit Agricole Group contributed 34% of total funding, underscoring continued support from the parent group.

Capitalisation remained strong, with Supervisory Capital at approximately €4 billion. The CET1 Ratio stood at 12.46% and the Total Capital Ratio at 16.58%. A 65-basis-point dip in the latter was attributed to regulatory changes requiring the consolidation of rental companies, offset in part by retained earnings and new capital subscribed by the shareholder.

Advancing sustainability and innovation

In 2024, CA Auto Bank made major strides in sustainability, surpassing key targets in its Group Sustainability Plan. Financing for electric and hybrid vehicles rose to 45.8% (target: 45%), while pure electric vehicles accounted for 34.8% (target: 20%). Drivalia’s fleet of low-emission vehicles reached 22%, and its European charging network grew to 1,897 stations.

The bank also embraced digital innovation, with 83.4% of financing documents signed digitally, significantly cutting paper use. Collaborations with mobility-focused startups rose by 25%, reinforcing the Group’s ecosystem of green and tech-driven solutions.

On the environmental and social fronts, CA Auto Bank now has 33% of its corporate fleet fully electric, and 76% either BEVs or PHEVs. Internally, the Group made progress on inclusivity, with women holding 36% of managerial positions (exceeding the 35% target), and 89% of employees engaged in training programmes.