Crédit Agricole (ACA) investor relations material

Strategic context and challenges

• Europe faces lagging productivity, intense digital competition, and strategic autonomy issues, with US banks dominating CIB revenues and neobanks capturing 40% of new customer onboardings.

• Societal and environmental transitions are urgent, with climate-related losses up 90% since 2014 and a major wealth transfer expected by 2035.

Vision, ambitions, and growth targets

• Aims to be a leading European bank, expanding client base to 60 million and generating 60% of revenues outside France by 2028.

• Seeks leadership in transitions, technology, and customer-centric banking, leveraging a diversified universal model and strong employer brand.

• All business divisions are growing, with 54 million customers in 46 countries and 79% Net Promoter Score.

• 70% of revenue growth is organic, with €5.4bn invested in IT in 2024 and €19bn in acquisitions over 10 years.

• Targets operational excellence with a cost-income ratio below 55% and net income above €8.5 billion, with a return on tangible equity above 14%.

Growth and transformation plan

• Expanding in domestic retail banking with tailored digital and human solutions, aiming for 8 million new customers.

• Focuses on organic growth, but remains open to M&A in Italy, Germany, and Poland if value-creating opportunities arise.

• Plans to leverage digital platforms for savings, deposits, and professional services across eight European countries, starting in Germany in 2026.

• Strengthening presence in Asia, targeting €150bn net inflows and 5.5% CIB revenue CAGR in APAC.

• Leading in environmental and demographic transitions, with €240bn in transition financing and 600,000 home energy renovations supported.