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Pubblico CRÉDIT AGRICOLE ITALIA:
RESULTS AS AT 30 JUNE 2026
• Consolidated net income at Euro 478 million, up by +2.1% YoY, confirming once again the Group’s ability to generate steady and sustainable profitability .
• Broad -based growth in business volumes : net loans to customers1 and direct funding up by +2% YoY; indirect funding also grew by +9% YoY, driven by Assets under Custody (up by +11% YoY) and Assets under Management (up by +7% YoY).
• Revenues over Euro 1.6 billion (up by +3.5% YoY): along with resilient net interest income (up by +1.8% YoY), fee and commission income showed a solid performance (up by +6.9% YoY), driven by the contribution from investment services (up by +8.4% YoY2).
• Increase in the customer base (up by +3% YoY) driven by the acquisition of 106 thousand new customers. Digital customers and new customers acquired online increased (+12%), while the Crédit Agricole Italia app continued to enhance its digital offering .
• Approximately Euro 8 billion of Wealth Management products were placed and over Euro 5 billion of new loans were originat ed (+9% YoY), driven by the performance of the corporate banking segment.
• Operating expenses increased (+1.7% YoY), incorporating the acceleration of investments in innovation and technological transformation envisaged under the Medium -Term Plan ; efficiency levels remained high, with the cost -income ratio at 48.9%.
• Effective management of asset quality: the gross and net NPE ratios decreased even further coming to 2.5% and 1.0%, respectively; the coverage ratio increased to 61.2% (+183 bps vs Dec. 2025) while the cost of credit stood at a historical low (29 bps).
• Successfully completed the first public Covered Bond issuance of the year in Premium format , for a total amount of Euro 1 billion and an 11-year maturity, the longest tenor placed on the market by an Italian issuer since the beginning of the year.
• Large liquidity buffer with the LCR at 193% and strong capital position: Common Equity Tier 1 ratio at 13. 2%3 and Total Capital Ratio at 18. 0%3.
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Milan – 31 July 2026 – Crédit Agricole Italia’s results as at 30 June 2026 have been announced today, giving evidence of its ability to generate profits over time.
Solid growth in profitability
In the first half of 2026, Crédit Agricole Italia confirmed its ability to generate solid and sustainable results , with consolidated net income of Euro 478 million, up by +2.1% YoY, also incorporating the higher tax impact resulting from the Italian Budget Law. This performance reflects a balanced and diversified business model, with a strategy that combines concrete support for the national economy with the acceleration of technological transformation for the benefit of customers .
Support to businesses and households
In a competitive and constantly evolving environment , Crédit Agricole Italia continued to provide support to households and businesses, through a wide range of products and services that relies also on the strong synergies with in all Group entities operating in Italy. The commercial strategy confirmed its effectiveness , delivering positive and broad -based results across all business lines :
• the customer base continued its growing trend, with 106 thousand new customers acquired (+3% YoY), while the digital channel continued to represent an important driver of commercial development (3 8%);
• new residential mortgage loans remained at solid levels , with disbursements coming to Euro 1.8 billion, up by +1.4% YoY. The share of transactions aimed at the purchase of homes in energy classes A and B consolidated at around 30% , confirming the Bank’s commitment to supporting households in their energy transition;
• new medium -long-term loans to enterprises hit Euro 3.1 billion in the half year , showing strong YoY increase (+17%);
• support to Italian companies in sustainable investing grew, with dedicated disbursements of approximately Euro 960 million, assisted by the activities of the Energy Desk;
• Wealth Management product placements stood at Euro 7.8 billion, driven by growth in all asset classes and a good performance of net inflows;
• growth continued in premium volumes for non -life insurance policies (+8% YoY), driven by effective integration between digital access and specialis ed insurance advisory services;
• positive evolution in volumes in the Agri -Food segment (+2.6% YoY) and constant growth in the market share, which came to 7.8%4 (March 2026). Specialist advisory services were also further consolidated , enhancing the synergies with Group entities in Italy and abroad.
In the first half of the year Crédit Agricole Italia renewed and enhanced its mortgage loans offering with the go -live of Mutuo Crédit Agricole Flexi , a highly flexible product featuring self -
management function alities accessible through digital channels. The mortgage allows customers to modify certain loan conditions over time , including the instalment amount ( VariaRata ), the suspension of one annual instalment ( SaltaRata ), the type of rate ( CambiaTasso ) and the deferral of the first instalment for up to 12 months after the loan contract signing ( IniziaConCalma ), in order to adapt to personal needs and market conditions. Furthermore, the product has special terms and conditions for high energy -efficiency properties . The promotional campaign, which ended in June, recorded demand increasing by +17% from last year, despite a less dynamic market scenario.
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3 Pubblico With the ambition of confirming, also in 2026, its first -place ranking among universal banks in Italy for the Customer Recommendation Index (CRI) and of moving forward on the relational excellence trajectory, the initiatives aimed at evolving customer experience continued , including the improvement of online reputation and digital showcase, as well as enhancing the customer listening system with a focus on responsiveness and relationship care .
Economic and financial performance
Revenues continued on a growing trajectory, increasing by +3.5% YoY, driven by the combined contribution from all the main revenue sources. Net interest income grew by +1.8% YoY, benefiting from the result of hedging strategies and from market rate dynamics , while posting a marked increased QoQ ( +2.4% Q2 2026/Q2 2025 and +2.8% Q2 2026/Q1 2026 ). Net fee and commission income increased once again (+6.9% YoY) , thanks especially to the “management, intermediation and advisory services” component (+10.5% YoY), driven by strong placement activity . This momentum continued in the se cond quarter : net fee and commission s grew by +8.2% Q2 2026/Q2 2025, with the same component increasing by +12.5% over the same period.
The increase in operating expenses (+1.7% YoY ) was mainly attributable to higher investments in technology and innovation, a key pillar in the ACT 2028 Medium -Term Plan, which led to the increase in the Administrative Expenses and Depreciation and Amortization aggregate (+6.5% YoY). On the other hand, thanks to the workforce optimization measures implemented , the inertial effect of the final tranche of salary increase under the new Italian National Collective Bargaining Agreement was offset and Personnel Expenses decreased by -0.8% YoY.
The combined trend in income and expenses supported the growth in gross operating income (+5.3% ), with the cost/income ratio coming to 48.9% .
Net adjustments to loans slightly increased year -on-year (+0.6%), while the cost of credit – expressed in basis points – stood at 29 bps , essentially in line with the figure for the same period of last year and decreasing by -5 bps compared to December 2025. Asset quality continued to improve thanks to effective risk management, as evidenced by the decrease in net non -
performing loans ( -9.4% vs Dec. 2025), at a pace more than double th an the market one (-3.6% May 2026 vs Dec. 20255), and by the number of new defaults , which remained well under control, with a Default Rate below 0.7%.
The gross NPE ratio decreased even further to 2.5% (vs 2.6% in Dec. 2025), as did the net NPE ratio , coming to 1.0% (vs 1.1% in Dec. 2025); at the same time , the coverage ratio of the non-performing portfolio increased to 61.2% , up by +183 basis points compared to the December 2025 figure (59.4%).
Consolidated net income grew ( +2.1% YoY ) despite the higher tax impact generated by the latest Italian Budget Law, with income taxes up by +16.0% YoY. Before taxes, the profit performance grew by +6.5% YoY.
The Bank’s capital position remained strong: the Common Equity Tier 1 Ratio and the Total Capital Ratio came to 13. 2%3 and 18, 0%3 respectively, remaining well above the minimum requirements assigned by the ECB .
The liquidity position also remained robust with the LCR at 193% and the NSFR >130%3.
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4 Pubblico Performances in terms of volumes:
• Loan s to customers1 came to Euro 67 billion. This aggregate increased by +2.4% YoY (+1.0% vs Dec. 2025) thanks to growth in both loans to enterprises (+4.9% YoY2) and home loans (+3.9% YoY2). Market share stood at 7.5%6;
• Assets under Management came to over Euro 59 billion, continuing a virtuous growth trend. This aggregate increased by +7.5% YoY and by +3.3% vs Dec. 2025, benefiting from the strong performance of placement activities across all asset classes . Particularly positive was the performance of the “Mutual Funds and Wealth Management” aggregate (+11.0% YoY and +4.3% vs Dec. 2025), along the progressive evolution of the bancassurance component (+4.0% YoY and +2.3% vs Dec. 2025). Assets under Custody continued to gr ow, up by +10.8% YoY (+2.6% vs Dec. 2025);
• Direct funding came to Euro 79 billion, broadly stable with year -end 2025 (-0.3%) and up by +1.6% year -on-year.
Digital offer
Digital and innovation continued to give a material contribution to Crédit Agricole Italia’s growth , still on the increasing trend they showed in the past few years, both in terms of online acquisition of new Customers and in terms of Customers’ digitalization . Specifically, digital acquisition grew year on year (+12%) and is now one of the main pillars to get new customers.
Crédit Agricole Italia app proved again one of the best mobile platforms in the Italian market with a 4.6 rating on the main stores, thanks to its optimization and constant implementation of new services . In Q1, the transactions section was completed with compliant credit transfers for tax reliefs and cardless withdrawal.
Le Village by CA
Since 2018, the Crédit Agricole Italia Group has been substantiating its attention to the regions where it operates and to innovation with the opening of “Le Village by CA”. Today the network consists of five Villages operating in Italy:
Le Village by CA Milano has been in operations since 2018 as the first expression of CA innovation in Italy: 51 startups have been accelerated with the support of 33 partner firms .
Le Village by CA Parma, the Emilia -Romagna innovation hub which was opened in 2020 and whose shareholders are Crédit Agricole Italia and Fondazione Cariparma, supports 20 partner firms and 52 startups; it focuses especially on agrifoodtech, life sciences, pharma, mechanics, mobility and automation.
Le Village by CA Triveneto, which was opened in 2022 in Padua and whose shareholders are Crédit Agricole Italia, Parco Scientifico e Tecnologico Galileo, Confindustria Veneto Est and Unismart - Fondazione Università degli Studi di Padova, supports 50 startups, 19 partner firms and 12 partner firms through the iANG project.
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5 Pubblico Le Village by CA delle Alpi , which was opened in February 2024 in the heart of Sondrio and is held by the Crédit Agricole Group and by Fondazione Pro Valtellina, focuses especially on innovation in mountain regions. At present, it supports 22 startups and 9 partner firms .
Le Village by CA Sicilia, which is the latest Italian hub and has been in operations since the end of 2024, is held by Crédit Agricole Italia, by Amundi and by two leading firms based in the region:
Irritec SpA and Ntet SpA. At present it has 15 partner firms and 42 startups .
This year, the VLAB programme , an initiative reserved for the partner firms of Les Villages by CA to accompany those corporates on their path to business innovation, has been focused on three verticals: AI and Intelligent Agents, Data Driven Marketing and Smart Finance.
The project also included the national call4startups aimed at searching the market for innovative startups and SMEs specialising in the programme’s verticals, with applications for participation by roughly 80 startups. Some of the initiative s that involved the startups belonging to the Le Village network were the participation in TuttoFood in May, an opportunity for emerging players to organize panels with 30 speakers and to have hundreds of visitors.
In H1, the Art & Innovation Programme also went live, an initiative that involved a total of 18 Museums and Firms and has the purpose of fostering the technological transformation of the Art world. Market, Experience and Conservation are the verticals in the search for technological solutions from startups in preparation for the final business matching event, which will be held on 6 October of this year.
Commitment to People, Training and Diversity & Inclusion
In 2026 the new Medium -Term Plan “ACT -2028” went live, in which the “People Project” pursues the goal of boosting the cultural, managerial and organizational transformation of the Group, with 248 thousand hours of training provided in H1. At the same time, the Group also started an importation generational turnover project, which provides for about 1,000 new hires over the Plan time horizon. In H1 2026, over 240 resources were hired, about 70% of whom are young people up to 35 years old. Special care was gi ven to the onboarding of all new hires and, as done in the past, also in 2026 significant investments have been made in development initiatives, such as mentoring and coaching. Upskilling programmes went live aimed at supporting the development of role -specific skills, to accompany the profess ional evolution of the Group’s people in the various scopes of its organization.
Having regard to Diversity & Inclusion, Crédit Agricole Italia has strengthened even further its commitment to fighting gender -based violence through tangible actions: the go -live of a commercial promotion offering fee -free current account services to supp ort women’s financial independence; the coverage of legal fees incurred by the any colleagues who are gender -based violence victims in their private life. Testifying to this commitment, in June the Bank won the Italian Banking Association 2026 “Diversity & Inclusion” award.
Commitment to social responsibility and sustainability
In H1 2026 Crédit Agricole Italia strengthened even further its commitment to disseminating financial education to new generations through several initiatives. Thanks to its partnership with FEduF (Foundation for Financial Education and Saving), through the CambiaMenti Sostenibili project, primary, lower and upper secondary school students from all over Italy were involved in webinars on financial education, sustainability, innovation and mindful use of money, which were attended by over 3,800 youths. This talent and inclusion enha ncement scenario also features
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6 Pubblico startuppHER , the exclusive mentorship programme designed to support the personal and managerial growth of women holding leadership roles in startups belonging to the Le Village by CA ecosystem.
Lastly, young generations were also focused on supporting Connessioni Digitali , the Save the Children project supported by the entities of Crédit Agricole in Italy, which promotes the development of digital skills, critical thinking and mindful use of technologies in lower secondary school students, contributing to the fight against digital education poverty.
Furthermore, the Boost project continued, in partnership with Fondazione Carispezia , addressing upper secondary school students from the La Spezia area and aimed at fostering the acquisition of economic and financial skills and mindful management of money. In the half -year, the initiative was enriched with Boost in Accademia , a programme developed in partnership with Amundi and designed for upper secondary school and university students, with deep dives into financial education, investing, sustainable finan ce and digital tools.
In the first six months of 2026 Crédit Agricole Italia reasserted its commitment to the communities it operates in, focusing its charity actions on three priority scopes: medical -scientific research, support to young people and fight against gender -based violence. Some of the main initiatives were the renewal of the partnership with the IEO-Monzino Foundation supporting cancer research, and the partnership with Women for Women Against Violence for an exhibition to raise awareness of breast cancer and gender -based violence.
As part of its commitment to promoting cultural heritage, in H1 Crédit Agricole Italia opened the exhibition “Andy Warhol. Passaggio in Italia 1975 –1987” at the Crédit Agricole Gallery – Refettorio delle Stelline in Milan. Focusing on the artist’s relationship with Italy, particularly Milan, Naples and Ferrara, the exhibition proved highly successful, attracting more than 15,000 visitors.
Crédit Agricole Italia remains committed to the regions it operates in, also through its Regional Committees , which, in H1, continued to develop and identify initiatives to support local entrepreneurship – specifically as regards internationalization processes – innovation and young talents, with special focus on women’s empowerment.
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7 Pubblico Parma, July 31, 2026
On July 23, 2026, the Board of Directors of Crédit Agricole Italia, chaired by Giampiero Maioli and upon the proposal made by Hugues Brasseur, the Group CEO and Senior Country Officer of Crédit Agricole in Italy, approved the Financial Statements for the first half of 2026.
The main companies within the Group include Crédit Agricole Italia S.p.A. ( Parent Company), Crédit Agricole Group Solutions S.C.p.A. and Crédit Agricole Leasing Italia S.r.l., which are fully consolidated .
GROUP FINANCIAL HIGHLIGHTS
Income Statement Data ▪ Net income at Euro 478 million (+2.1% YoY).
▪ Revenues at Euro 1,611 million (+3.5% YoY).
▪ Operating expenses at Euro 787 million (+1.7% YoY) ▪ Net a djustments to loans at Euro 97 million (+0.6% YoY).
Balance Sheet Data ▪ Group shareholders' equity at Euro 8.8 billion (+2.6% vs. Dec. 2025).
▪ Loans to customers1 at Euro 67.3 billion (+1.0% vs Dec. 2025).
▪ Direct funding at Euro 78.9 billion ( -0.3% vs. Dec. 2025).
▪ Assets under Management at Euro 59.1 billion (+3.3% vs. Dec. 2025).
Group Ratios
▪ Gross and net NP E ratios at 2.5% and 1.0% respectively.
▪ NPE coverage ratio at 61.2%.
▪ Common Equity Tier 1 Ratio at 13. 2%3.
▪ Total Capital Ratio at 18. 0%3.
▪ LCR at 192.9% and NSFR >130%3.
INCOME STATEMENT RESULTS AS AT 30 JUNE 2026
Revenues amounted to Euro 1,611 million, increasing by +3.5% compared with . the same period of 2025.
Net interest income came to Euro 862 million, increasing by +1.8% YoY, supported by positive trends both period over period (+2.4% Q2 2026/Q2 2025) and quarter over quarter (+2.8% Q2/Q1), also reflecting the effectiveness of the hedging strategies.
Net fee s and commission s totalled Euro 707 million, up +6.9% YoY, driven by the strong performance of the “management, intermediation and advisory services” component (+10.5% YoY) while the “commercial banking activity and other” component grew by +1.2% YoY.
Financial income stood at Euro 27 million, increasing by +1.7% compared with the first six months of 2025.
Operating expenses increased moderately (+1.7% YoY) to Euro 787 million. Performance reflected the acceleration of investments in innovation and technological development envisaged under the Medium -Term Plan , which led to a +6.5% YoY increase in the Administrative Expenses and Depreciation and Amortization aggregate. HR Costs decreased by -0.8% YoY, as the benefits
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8 Pubblico of the workforce optimization measures implemented that more than offset the inertial effect associated with the final tranche of salary increase under the new Italian National Collective Bargaining Agreement.
Net adjustments to loans , amounted to Euro 97 million, broadly stable (+0.6% YoY) compared with. Euro 96 million in the corresponding period of previous year, while the cost of credit (the ratio, expressed in basis points , of net adjustments to loans to loans to customers) came to 29 bps (-1 bps YoY).
After deducting income taxes of Euro 249 million (+16% YoY) , consolidated net income amounted to Euro 478 million, up +2.1% compared with the result recorded in the first half of 2025.
BALANCE SHEET AS AT 30 JUNE 2026
Total Volumes , resulting from the sum of loans to customers , direct funding and Assets under Management, stood at Euro 205 billion, up from the previous by Euro 7 billion (+3.5%) , with growth recorded across all components .
Loans to Customers1 totalled Euro 67.3 billion, increasing year on year (+2.4%). This positive performance resulted from growth both in corporate loans (+4.9% YoY2) and in residential mortgage loans (+3.9% YoY2), the latter driven by the latest promotional campaign.
Asset quality continued to improve progressively and constantly with total net non -performing loans coming to Euro 0.7 billion, down -9.4% vs. Dec -25, thanks to effective internal management of non -performing exposures , with the Default Rate remaining at modest levels (0.66%). The net and gross NPE ratios showed further improve ment , standing at 2.45% ( -16 bps vs Dec -25) and to 0.97% ( -11 bps vs Dec -25) respectively. The coverage ratio also improved, coming to 61.2% from 59.4% in December 2025.
Assets under Management came to Euro 59.1 billion, up by +7.5% YoY, driven by the effective placement activit y main asset classes .
Particularly strong performance was recorded by Mutual and Investments Funds (+11.0% YoY), benefiting from net inflows up by Euro +0.6 billion and by a favourable market effect, despite the persisting uncertainty in the international scenario. The bancassurance component also grew compared to last year (+4.0%).
Direct funding amounted to Euro 78.9 billion, increasing by +1.6% YoY. Specifically, customer deposits came to Euro 63.1 billion, essentially stable year over year (+0.6%).
Liquidity position , more than satisfying , with the LCR at 193% and the NSFR >130%3.
Group’s capital position well above the minimum requirements assigned by the ECB for 2026:
the Common Equity Tier 1 Ratio stood at 13. 2%3 and the Total Capital Ratio at 18. 0%3.
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Profile of Crédit Agricole The Crédit Agricole Group, one of top 10 banking groups worldwide, with 12.1 million mutual shareholders, operates in 46 Countries, including Italy, which is its second domestic market. It operates in Italy with all its business lines: from comme rcial bank ing, to consumer lending, from corporate&investment banking to private banking and asset management, all the way to insurance and wealth management services for HNW individuals The cooperation between the commercial network and the business lines ensures w ide-ranging and integrated operations serving over 6 million customers, through approximately 1,600 points of sale and over 16,100 employees, as well as support to the economy with about 104 billion Euros in loans.
Besides Crédit Agricole Italia, the Group consists of the entities engaged in Corporate and Investment Banking (CACIB), Specialist Financial Services (Agos, CA Auto Bank), Leasing (Crédit Agricole Leasing, which is part of Crédit Agricole Italia ) and facto ring (CA Factoring), Asset Management and Asset Services (Amundi, CACEIS), Insurance (CA Vita, CA Assicurazioni, PiùVera Assicurazioni, PiùVera Protezione and CA Creditor Insurance) and Wealth Management CA (Indosuez Wealth Management).
www.credit -agricole.it
PRESS CONTACTS
External Relations – Media Relations Crédit Agricole Italia E-mail: relazioniesterne@credit -agricole.it Phone: +39 0521.21.2826 / 2846 / 2801
Notes
1 Excluding securities accounted at amortized cost.
2 Management figure.
3 Provisional data.
4 Source: Bank of Italy;
5 Source: ABI Monthly Outlook (July 2026).
6 Source: Bank of Italy (data as at March 2026); market shares in the Provinces in which CAI operates - residential mortgage loans perimeter.