Core Insights - Crédit Mutuel Alliance Fédérale achieved a historic net income of €4.2 billion in 2025, reflecting a growth of 2.3% year-over-year, and an 11.4% increase when excluding the income tax surcharge of €377 million [6]. Financial Performance - Net revenue reached an all-time high of €17.723 billion, up 6.7% from €16.610 billion in 2024 [5]. - Retail banking contributed €13.239 billion (+7.2%), insurance contributed €1.548 billion (+7.6%), and specialized business lines contributed €2.932 billion (+0.5%) [5]. - General operating expenses increased by 5.9% to €9.808 billion, while the cost of risk stabilized at €1.828 billion, down 11.8% [5][6]. - Income before tax rose by 13.6% to €6.052 billion [5]. Customer Growth and Market Position - The company acquired 14.7 million banking customers (+166,000) and 7.6 million insured customers (+3.4%) in France [6]. - The cost/income ratio improved to 55.3%, a decrease of 0.4 points, indicating enhanced operational efficiency [6]. Strategic Investments and Developments - Investments were made to develop in-house technology expertise, particularly in generative AI [6]. - The rollout of the banking and insurance model in Germany is underway, including the integration of OLB, which joined the group on January 2, 2026 [6]. Financial Stability and Equity - The Common Equity Tier 1 (CET1) ratio stands at 19.7%, one of the highest in Europe, reflecting a strong financial structure [6][7]. - Shareholders' equity is reported at €70.3 billion [7]. Societal Contributions - A record societal dividend of €622 million was declared for 2025, representing 15.2% of net income in 2024, with a total of €1.6 billion distributed since 2023 [6]. - The societal dividend for 2026 is set at €633 million, which is 15% of 2025 net income after tax [6].