Crédit Agricole (ACA) Q2 2025 earnings summary

Executive summary

• Net income Group share reached €2.4 billion in Q2 2025, up 30.7% year-over-year, driven by dynamic activity and a capital gain from the Amundi US deconsolidation; H1 2025 net income Group share was €4,213 million, up 12.9% year-over-year.

• Revenues for Q2 2025 were €7.0 billion, up 3.1% year-over-year; H1 2025 revenues reached €14,263 million, up 4.9% year-over-year.

• Cost/income ratio remained low at 53.9% for H1 2025, with ROTE at 16.6%.

• Solvency remains robust with a CET1 ratio of 11.9% for Crédit Agricole S.A. and 17.6% for the Group.

• Strategic transactions and partnerships, including the deconsolidation of Amundi US, acquisitions in Europe, and increased stake in Banco BPM, accelerated development.

Financial highlights

• Net income Group share rose 30.1% in Q2 2025 to €2,638 million; H1 2025 net income Group share was €4,803 million, up 8.9% year-over-year.

• H1 2025 revenues for Crédit Agricole S.A. rose 4.9% to €14.3 billion; Group revenues for H1 2025 increased 4.3% to €19.9 billion.

• Gross operating income up 4.1% year-over-year; cost of risk stood at €855 million in H1 2025.

• Insurance posted record net inflows and premium income; asset management AUM reached €2,267 billion, with strong net inflows.

• EPS for H1 2025 was €1.305, up from €1.085 in H1 2024.

Outlook and guidance

• Medium-term outlook remains strong, with a strategic plan to be presented on 18 November 2025.

• Guidance for net income Group share is at least above 2024 levels, excluding corporate tax surcharge.

• Prudent outlook for LCL net interest income in 2025, expecting stability; macroeconomic scenarios for credit risk provisioning remain cautious.