First quarter 2025 results

Net pre-tax income up

• Record quarterly revenues and strong growth, fuelled by the excellent performance by Asset Gathering and Large Customers
• High profitability: contained cost/income ratio (increase in expenses of +3.2% Q1/Q1 excluding exceptional elements) and 15.9% return on tangible equity
• Stable cost of risk
• Results impacted by additional corporate tax charge

Excellent performance in CIB and Asset Gathering division

• High CIB, asset management and insurance business, reflected in the increased level of insurance revenues with contributions from all activities, net inflows (medium-long term) and a record level of assets under management, as well as a new record reached by CIB
• Loan production in France recovered compared with the low point in early 2024 without confirming the end-of-year momentum and consumer finance down, impacted by decreased activity in automotive financing; international credit activity at a high level.

CAPITAL OPERATIONS and strategic projects

• Creation of the GAC Sofinco Leasing joint venture
• Partnership created between Amundi and Victory Capital
• Stake in the capital of Banco BPM increased to 19.8%
• Planned acquisition of Banque Thaler announced by Indosuez Wealth Management

As expected, solvency ratios benefiting from the positive impact of crr3.

• Crédit Agricole S.A.’s phased-in CET1 at 12.1% and Group phased-in CET1 at 17.6%

Continued support for the energy transition

• Continued withdrawal from fossil energies and reallocation to low-carbon energy sources
• Support for the transition of households and businesses

Dominique Lefebvre, Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors
“Quarter after quarter, Crédit Agricole continues its action to support the major societal, environmental, agricultural and agri-food transitions, which are solid development levers for the entire Group. I would like to thank each of our employees for their daily commitment to serving our customers.“

Philippe Brassac, Chief Executive Officer of Crédit Agricole S.A.
“The Group has published high-level results this quarter, driven by strong revenue growth, despite exceptional taxation. Crédit Agricole S.A. posted record revenues this quarter and high profitability.”