“Crédit Agricole in Italy confirms its sustainable growth strategy, based on digital innovation, service excellence and commitment to customers, colleagues and communities.” These are the words used on Tuesday by the CEO and Senior Country Officer Hugues Brasseur, who presented the on Tuesday new Medium-Term Plan 2028 di Crédit Agricole ItalyAn ambitious project that includes consolidation as a Universal Bank and an organic growth path that aims to exceed 6,5 million customers (+0,4 million by 2028). Not only that, the useful expected in our country by 2028 would represent approximately 20% of the group's profits (today it is around 15%), confirming Italy as Banque Verte's second domestic market, after France.
The three pillars of the plan: Black Italia, the Mid Corporate segment and longevity
Among the highlights of the plan, in the field of innovation, is the implementation of investments to accelerate the development of Blank Italia, a company created to simplify financial management for freelancers and microbusinesses through a fully digital application. "This transaction will strengthen the service model for this segment and further improve acquisition," the bank emphasized in a statement.
A strengthening of the presence in the Mid Corporate segment, through an offer of customized financial solutions thanks to the partnership between Crédit Agricole Italia and CA Corporate & Investment Bank. The plan also features a new approach to longevity which, thanks to the experience gained by Amundi and CA Vita, establishes the creation of a consultancy tool and investment solutions capable of filling the pension deficit. Finally, within the specialized financial servicesAgos will complete a transformative plan to improve the customer experience, encompassing all customer relationship methods and contact channels, including through advanced IT implementations. This will also include enhancing CA Autobank's offering for the automotive sector, for increasingly sustainable mobility.
Crédit Agricole Italia, Brasseur: "Room for organic growth"
Crédit Agricole still has "room for organic growth in Italy", assured CEO Brasseur during the conference call presenting Banque Verte's new medium-term plan. In our country, the institution "confirms its sustainable growth strategy, based on digital innovation, service excellence, and commitment to customers, colleagues, and communities."
Going into the details of the plan, "for Crédit Agricole Italia, already a leader among universal banks in Italy for Customer Recommendation Index - IRC, the objective is to further improve the high standards of customer satisfaction while continuing to confirm itself at the top of the sector", highlights the bank which foresees a growth of approximately 4 billion in the stock of loans for Mid Corp and Corporate, through the strengthening of the territorial network and the revision of the service model (expansion into new territories and strengthening the specialized model with a focus on ESG, Structured Finance/M&A and Real Estate/Hospitality).
Regarding the digital strategy, theCrédit Agricole Italia App It will become a reference tool for acquisition and for the sales and post-sales phase. Remaining on digital, it is expected focus on the internalization of IT skills, with the widespread use of AI through the strengthening of the AI Factory and the adoption of an "Agentic workforce" model and cybersecurity. "The increased digitalization of credit processes will facilitate the automation of approvals for 'pre-qualified' loans, with the aim of reducing response times," explains Crédit Agricole.
The new plan also establishes a further strengthening of leadership in the mortgage market and in the Agri-Agro segment, as well as the evolution of the service model for SMEs and professionals, with the development of a new platform for third-party networks. Finally confirmed commitment to ESG issues through comprehensive support for businesses in the energy transition, the provision of credit for green construction, mortgages and financing aimed at energy conversion, the development of insurance coverage for climate and catastrophe risks and financing for energy production from renewable sources, which will increase sixfold.
Crédit Agricole's objectives
As for the global goals of Crédit Agricole, the group aims for a 2028 net profit of 8,5 billion and reach 60 million customers. Between 2024 and 2028, the French bank expects a revenue growth above 3,5% average annual rate, with the contribution of "all divisions, in line with the development model based on a balanced and diversified business mix", explains Banche Veret.
In Italy a is expected revenue increase of 1-2% per year with a cost/income ratio below 55%Crédit Agricole's European presence remains solid and is expected to further strengthen outside France, while its customer mix remains diversified and stable, the bank said.
Turning to capital solidity, the Cet 1 is seen at least 17% for the entire trajectory of the plan, "allowing for the optimised management of Credit Agricole SA's CET 1 at around 11%". External growth "will continue to be based on rigorous M&A criteria: a return on investment greater than 10% within three years, increased ROTE, proven integration capabilities, clear cost and revenue synergies and strict alignment with strategy, risk level and supervisory requirements”.
Finally, on the shareholder remuneration front, the 2028 plan provides for a 50% cash payout and the payment of a interim dividend starting in 2026.
