Core Viewpoint - Credit Agricole is exploring a potential merger of its Italian arm with Banco BPM, collaborating with Deutsche Bank and Rothschild on this deal [1] Group 1 - Credit Agricole is working with Deutsche Bank and Rothschild on the merger discussions [1]

Core Points - Dominique Lefebvre announced his resignation from his positions as chairman of the Fédération Nationale du Crédit Agricole (FNCA) and the Board of Directors of Crédit Agricole S.A. by the end of 2025 [1] - Lefebvre has chaired FNCA for 15 years and Crédit Agricole S.A. for 10 years, expressing pride in supporting the Group's transformation during significant changes in the environment [2] - The transition period will be supported by Lefebvre to ensure continuity and facilitate the successor's transition [2] Company Transition - The appointment of a new chairman will follow the existing regulations and will be communicated in due course [2]

Core Viewpoint - Crédit Agricole S.A. has announced the redemption of its outstanding EUR 1,000,000,000 Senior Non-Preferred Callable Fixed to Floating Rate Social Notes, which were issued on October 12, 2022, with a maturity date of October 2026 [2][12]. Redemption Details - The redemption will occur pursuant to Condition 7(e) (Redemption at the Option of the Issuer) of the terms and conditions of the Notes, and the redemption amount will be paid at 100% of the outstanding nominal amount plus any accrued interest [13][2]. - The Redemption Amount is due on October 12, 2025, and interest on the Notes will cease to accrue on that date [3][14]. - Since October 12, 2025, is not a business day, the payment will be made on the next business day, October 13, 2025, without any additional interest for the postponed payment [15][3]. Additional Information - The terms and modalities of the redemption are detailed in the notice to the holders of the Notes, which is included in the press release [4]. - The Base Prospectus and Final Terms, which govern the Notes, were previously approved by the Autorité des marchés financiers [13][2].

Core Viewpoint - Crédit Agricole S.A. has announced the redemption of its outstanding EUR 1,000,000,000 Senior Non-Preferred Callable Fixed to Floating Rate Social Notes, which were issued on October 12, 2022, with a maturity date of October 2026 [2][12]. Redemption Details - The redemption will occur pursuant to Condition 7(e) of the Terms and Conditions, and the Redemption Amount will be due on October 12, 2025, which includes the outstanding nominal amount and any accrued interest [3][14]. - As October 12, 2025, is not a business day, the payment will be made on the next business day, October 13, 2025, and no interest will be paid for the postponed payment [3][15]. Additional Information - The terms and modalities of the redemption are detailed in the notice to the holders of the Notes, which is included in the press release [4].

Group 1 - Credit Agricole SA's investment banking division has agreed to pay a fine of 88.2 million euros ($103.4 million) to settle a criminal investigation [1] - The investigation focused on dividend-arbitrage trades that were allegedly used to avoid withholding taxes [1] - A French judge announced the settlement on Monday [1]

Legal & Regulatory - Credit Agricole's investment banking arm is expected to settle a criminal case regarding alleged tax evasion on dividend payments [1] Source - The information was initially reported by France Info [1]

Group 1 - The French bond market shows signs of stabilization amid political turmoil, with the 10-year government bond yield reaching 3.55%, the highest since March, and the yield spread with German bonds widening to 82 basis points before retreating to around 79 basis points [1] - Vincent Mortier, Chief Investment Officer of Amundi, noted that the current yield spread is attractive and could help stabilize market sentiment, emphasizing France's ability to improve its fiscal situation through tax adjustments [1] - Since President Macron dissolved the parliament in June last year, French financial assets have been under pressure, with the CAC 40 index declining by 3.2% while the broader STOXX 600 index rose by 5.1% [1] Group 2 - The French Debt Management Agency has raised the upper limit for the issuance of 10 to 30-year government bonds to €11 billion, contrasting with the reduced issuance following Macron's parliamentary dissolution last year [2] - This move is seen as a positive signal to alleviate debt concerns, although the market still needs to monitor the impact of political risks on long-term financing costs [2]

Core Points - Crédit Agricole S.A. completed a capital increase reserved for its 190,000 employees and retired former employees, raising a total of €294.5 million from 37,533 subscribers [2][3] - The capital increase offered a 20% discount on the share price, based on the average opening prices from 26 May to 20 June 2025 [3] - A total of 22,886,191 new shares were issued, increasing the total number of shares to 3,048,788,541 [3] Group 1 - The capital increase will be followed by a share buyback operation to offset its dilutive effect, pending approval from the ECB [4] - The initiative is part of the Group's employee profit-sharing policy, benefiting employees with a minimum of three months' service in France and 22 other countries [4] - Employees will retain their assets in their company savings plan (PEE) in France [4]

Group 1 - The French government is facing significant political uncertainty as Prime Minister Borne announced a confidence vote in the National Assembly on September 8 to facilitate the 2026 budget process, amid ongoing opposition [1] - The French stock market reacted negatively, with the CAC 40 index opening down 1.51%, reflecting concerns over political and fiscal instability, particularly among major banking stocks [1] - Major banks such as BNP Paribas, Société Générale, and Crédit Agricole saw significant declines in their stock prices, with drops of 6.19%, 6.31%, and 4.51% respectively [1] Group 2 - The French Economy Minister, Eric Lombard, indicated that if the government fails to secure the confidence vote, there is a possibility of intervention from the International Monetary Fund regarding France's finances [2] - Lombard warned of a potential sharp rise in French government bond yields, suggesting that France could become the weakest among EU countries in terms of debt burden [2] - He expressed concern that within two weeks, France's debt load could surpass that of Italy, which would be alarming for the country [2]

Group 1 - French Agricultural Credit Bank analysts indicate that Japan's corporate capital expenditure is expected to become cautious due to U.S. tariffs and concerns over global economic slowdown, potentially leading to a quarter-on-quarter contraction in Japan's economy in Q3 2025 [2] - Barclays Bank reports a surge in European high-yield bond issuance driven by refinancing needs and increased dividend payments, with issuance surpassing €80 billion since 2025, marking the second-highest level for the period [2] - ING analysts suggest that if geopolitical risks ease, the dollar may face downward pressure due to reduced safe-haven demand, while strong U.S. inflation data has led to a reassessment of Federal Reserve rate cut expectations, supporting the dollar [3] Group 2 - Analysts believe the Bank of England may maintain a cautious interest rate stance for the remainder of 2025, with expectations to pause rate cuts in September and December, providing key support for the pound [4]