Amundi Investor Presentation
Excellent operational efficiency maintained
Operating expenses (€m)
+18.6%
-1.5%
A change in operating expenses vs. Q3 2020
related to:
-
the provisioning of variable compensation, in relation to
growth in operating income
the scope effect compared to Q3 2020 (+€10m) linked to
the creation of Amundi BOC WM³ and the full
consolidation of Fund Channel4;
continued investments in development, especially at
Amundi Technology and in other growth engines
388
383
323
T3 2020
T2 2021
T3 2021
51.2%
45.7%
48.4%
Cost/income ratio¹ (%)
~50%
~50%
Cost/income ratio excluding
exceptional level of performance fees² (%)
1. Adjusted data: excluding amortisation of distribution contracts. 2. Data excluding exceptional performance fees (= higher-than-average performance fees per quarter in 2017-
2020). 3. Consolidated from Q4 2020. 4. Consolidated from Q1 2021.
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Amundi Investor Presentation - November 2021
Amundi
CRÉDIT AGRICOLE GROUPView entire presentation