Crédit Agricole (ACA) Q3 2026 earnings summary

Executive summary

• Q3 consolidated revenue rose 10.7% to €10.497bn and gross operating income increased 23.6% to €4.564bn; adjusted net income Group share grew 23.0%.

• Parent Q3 revenue increased 7.5% to €7.092bn and adjusted net income rose 11.0% to €1.991bn; 9M ROTE was 14.2%.

• Growth in Asset Gathering and CIB offset weakness in mobility-related activities and slower French mortgage lending; customer capture reached 1.8m in 9M.

Financial highlights

• Consolidated Q3 shareholder net income was €2.780bn (+28.2% reported; +23.0% adjusted for Santander NCI and SBI FM IPO effects).

• Consolidated 9M revenue was €31.378bn (+8.8%), gross operating income €13.268bn (+18.5%) and shareholder net income €7.654bn (+13.7%; +15.9% adjusted).

• Parent 9M revenue reached €21.449bn (+5.3%) and shareholder net income €5.718bn (+1.0% reported; +2.9% adjusted).

• SBI FM’s Q3 IPO gain added €205m to parent net income; consolidated net income included a €210m gain.

Outlook and guidance

• Proposed IKB acquisition price is ~€660m, with a ~15% ROI target within three years and an estimated 20bp CET1 impact; closing is planned for H1 2027.

• Degroof Petercam integration target of €150m–€200m additional net income Group share in 2028 was confirmed; synergies were ~50% realised.

• CA Savings targets 650 new customers daily in 2027–28 and plans expansion into six further European countries from 2027.

• Medium-term ROTE above 14% is viewed as a minimum; LCL guidance for 6% NII growth over 2026–28 was maintained.