Financial results Credit Agricole Group for the first quarter 2025

Credit Agricole Group published high-level revenues and net pre-tax income demonstrating sustained growth.

In the first quarter 2025, revenues reached record levels of €10 billion for Crédit Agricole Group (+5.5%) and €7.3 billion for Crédit Agricole S.A. (+6.6%).

Crédit Agricole Group’s net pre-tax income was €3.4 billion, up by +1.6% compared with the first quarter of 2024. Crédit Agricole S.A.’s rose by +4.6% to €2.9 billion.

The net income Group share was €2.2 billion (-9.2%) and that of Crédit Agricole S.A. stood at €1.8 billion (-4.2%). As a major taxpayer in France, the Group recorded an exceptional tax charge of €207 million this quarter, relating to the additional corporate tax charge.

Profitability was very high with a controlled cost/income ratio and a Return on Tangible Equity (RoTE) of 15.9%.

Strong and continuous growth momentum

It is the Group’s Universal Banking model and its dual growth potential that enables this performance to be achieved. The potential for organic growth, thanks to the capacity of the retail banks to meet the needs of all their customers and to develop their scope of services, is combined with external growth operations carried out via the business lines that are natural consolidators in their markets.

During the quarter, the Group’s retail banks added 550,000 new customers, of which 117,000 were in Italy and Poland. Outstanding loans increased at €881 billion in France and Italy.

The equipment rate for property and casualty insurance was 44.2% for the Regional Banks (+0.8 pp compared with Q1 2024), 28.0% for LCL (+0.2 pp) and 20.3% for CA Italia (+1.0 pp).

This growth was driven by corporate and investment banking, with asset management and insurance producing the highest insurance premiums, boosted by all activities, a high net inflow and a record level of asset management outstandings (€2,247 billion). Corporate and investment banking revenues reached record levels over the quarter.

Continued acquisitions and partnerships

In addition to its organic growth, the Group is benefitting from momentum in its business lines, which are consolidators in their sectors.

During the first quarter, Amundi finalised its strategic agreement with asset manager Victory Capital in order to strengthen its presence in the United States.

CAPFM took a stake in GAC Leasing to support the growth of GAC Group sales in China.

Indosuez Wealth Management announced that its entity in Switzerland had signed an agreement with a view to acquiring Banque Thaler.

Crédit Agricole S.A., authorised by the ECB to increase its stake in Banco BPM to 19.9%, consolidated its position as long-term investor and partner of Banco BPM in Italy.

A proactive transition plan, driving growth and opportunities

In support of a new low-carbon economy, the Group is rolling out its transition plan in three complementary areas:

• Stepping up the roll-out of renewable and low-carbon energy
  By way of example: +141% in low-carbon energy loans since 2020, with €26.3 billion at end-2024.
• Supporting everyone’s transition, as a universal bank
  By way of example: €111.7 billion of financing to support the transition for all at end 2024, including €86.7 billion for energy-efficient buildings and €5.3 billion for transport and clean mobility.
• Continuing its gradual withdrawal from financing carbon energy
  By way of example: Financing down 40% for fossil fuel extraction at end-2024 compared with 2020.

Read the press release https://pressroom.credit-agricole.com/news/first-quarter-2025-results-625e6-94727.html