Crédit Agricole slips (-8,8% to 16,28 euros) like the other major French banks on the Paris Stock Exchange after the publication of the accounts of first quarter, slightly below analysts' expectations. But the three months from January to April 2026 closed with a net profit consolidated revenue of 2,1 billion, up 5,5% compared to the same period in 2025. Revenues also rose, rising 2,8% to 10 billion euros, while costs stood at 6 billion (+0,7%).
Gross operating profit thus grew by 6,2% to 4 billion. cost/income ratio was 60,3%, while the return on tangible capital was 13,7%.
“Despite the challenges, the group recorded solid and growing results in the first quarter,” commented Olivier Gavalda, CEO of Banque Verte These results reflect sustained growth across all business lines, an acceleration in the digitalization of the customer experience, and continued expansion in Europe.
Amundi: Record Assets Under Management Despite UniCredit Outflows
The parent company Crédit Agricole SA The company closed the quarter with a profit of €1,7 billion, up 1,8% year-over-year but just below the €1,72 billion analyst consensus forecast. The annualized cost of risk stood at 31 basis points, equal to -€960 million, a 30,6% increase compared to the same period in 2025. This figure includes €755 million in provisions for impaired loans as well as €159 million in prudential provisions, partly in light of the risks associated with the war in the Middle East.
The subsidiary Amundi Assets under management increased to a record €2.398 billion, with retail net inflows of €13,2 billion, despite €9 billion in outflows from UniCredit's networks. The "large clients" division, which includes investment banking activities, reported a profit of €711 million, down 1,7% compared to the first quarter of 2025.
Italy second domestic market
In the three months ended March 31, In Italy, Banque Verte recorded a net profit of 525 million, of which 436 are pertaining to the group. Our country thus confirms itself as the "second domestic market of the Crédit Agricole group,” the bank emphasized in a statement. Specifically, operating profit rose 5,1% to €773 million, with revenues up 4% to €1,3 billion. The cost/income ratio stood at 42,6%. As for balance sheet aggregates, total loans reached approximately €103 billion, while total funding stood at €341 billion. As for the banking subsidiary alone, Crédit Agricole ItalyQuarterly profit increased 3% year-on-year to €244 million, while revenues grew 2,5%, with net interest income up 1,2% and net commissions up 5,5%. Operating expenses increased 0,6%, resulting in a cost/income ratio of 47,8%. Finally, from a capital perspective, the CET 1 ratio stands at 13,24%.
Crédit Agricole acquires Banco BPM and focuses on the former Popolare di Bari
The quarterly report shows that Crédit Agricole has further rounded up its stake in Banco Bpm, rising from 22,8 to 22,9 percent of the capital. The stake contributed positively to the quarter's accounts by €111 million. "Our strategy and our position towards Banco BPM have not changed. We truly want promote long-term value creation and we are positioning ourselves as a long-term partner" of Piazza Meda. He said this in an interview with Bloomberg TV, Clotilde L'Angevin, CFO and Deputy General Manager of Banque Verte. "What we did this quarter was increase our stake from 20,1% to 22,9%, taking advantage of market conditions, but this doesn't change the fact that we want to be a constructive long-term partner," adds L'Angevin, recalling that at the BPM shareholders' meeting, "we presented our list of directors with the aim of making a positive contribution to governance, and so we now have four seats on the board of directors."
"Our broader strategy in Italy is focused on Banco BPM, but also on organic growth linked to Crédit Agricole Italia, which is posting quite positive results," L'Angevin concludes.
Mf-Milan Finance It also reveals that Banque Verte has submitted an expression of interest in purchasing BdM Banca from Mcc, former Popular of Bari, as part of the recently initiated privatization process.
