Crédit Agricole posted a second-quarter net profit of €2.78 billion, up 7.8% from a year earlier, beating analyst expectations that had projected about €1.9 billion excluding one-off gains. Group revenue rose 12.9% to €10.88 billion, driven in part by a 38% jump in regional banks' net interest margin, while the cost-to-income ratio improved by 4.5 percentage points to 56.5%.
For the first half of 2026, group net income reached €4.875 billion, a 14.5% increase excluding a capital gain from Amundi's deconsolidation. The bank also announced a €500 million three-year investment plan and the creation of an artificial intelligence division.
On the Italian front, Crédit Agricole raised its stake in Banco BPM to 29.3%, with CEO Olivier Gavalda dismissing reports of merger talks between Banco BPM and Monte dei Paschi as false. Deputy CEO Jerome Grivet said the holding makes Crédit Agricole an "inevitable stakeholder" in any future BPM moves.