Banque Fédérative du Crédit Mutuel - 2025 full-year results press release

Financial Performance - Diversified net revenue for the year ended December 31, 2025, reached €13.137 billion, an increase of 6.2% from €12.370 billion in 2024 [1][2] - Retail banking revenue grew by 7.4% to €9.038 billion, while insurance revenue increased by 7.5% to €1.558 billion [1][7][8] - General operating expenses rose by 5.8% to €6.629 billion, reflecting investments in personnel and technology [1][10] - Income before tax increased by 10.9% to €4.811 billion, driven by revenue growth and controlled operating costs [1][16] - Net income rose by 1.4% to €3.461 billion, despite a significant increase in income tax due to a new surcharge [1][17][18] Cost Management - The cost of risk stabilized at -€1.685 billion, a decrease of 6.8% from -€1.807 billion in 2024 [1][12] - The cost of proven risk increased by 9.3% to -€1.789 billion, while the cost of non-proven risk showed a net reversal [1][13][14] - The cost/income ratio improved by 0.2 percentage points to 50.5% [1][11] Business Line Performance - Retail banking net income surged by 19.0% to €1.519 billion, with a slower growth in general operating expenses [1][26] - Insurance business contributed €997 million to net income, stable year-on-year, despite a significant tax contribution [1][27] - Asset management and private banking revenues stabilized at €1.342 billion, with private banking showing a 3.0% increase [1][28] - Corporate banking revenue declined by 8.7% to €628 million, impacted by lower interest rates [1][29] - Capital markets revenue increased by 12.9% to €593 million, with net income rising by 16.5% to €224 million [1][30] Financial Structure - Shareholders' equity reached €48.8 billion at the end of 2025, up from €45.2 billion in 2024 [1][19] - The Common Equity Tier 1 (CET1) ratio was estimated at 19.7%, indicating strong capital adequacy [1][19] - Total assets amounted to €741.473 billion, reflecting growth in customer loans and total savings [1][32][34]