Crédit Mutuel Alliance Fédérale - 2025 Full-year results press release

Results at December 31, 2025	Press release
	Strasbourg, February 5, 2026

Driven by net revenue growth, Crédit Mutuel Alliance Fédérale
achieves historic net income of €4.2 billion in 2025

PERFORMANCE IN LINE WITH THE 2024-2027 STRATEGIC PLAN TARGETS:

• Record net income of €4.2 billion, up +2.3%, and +11.4% when excluding the income tax surcharge (€377 million).
• Record net revenue of €17.7 billion, up +6.7%.
• Customer acquisition in line with targets: 14.7 million banking customers (+166,000) and 7.6 million insured customers (+3.4%) in France.

SCHEDULED STRATEGIC INVESTMENTS FINANCED BY BUSINESS GROWTH:

• Net revenue growth outpaced growth in general operating expenses (+6.7% vs. +5.9%):
  positive operating leverage further improved the best operational efficiency in France: the cost/income ratio was 55.3% (-0.4 point).
• Investments to develop in-house technology expertise (large number of use cases for generative AI developed).
• Rollout of the banking and insurance model in Germany (including OLB, which joined the group on January 2, 2026).

IMPROVED SOLIDITY OF THE MUTUALIST MODEL:

• Further diversification of the revenue mix, including geographically.
• Cost of risk stabilized at €1.8 billion (-11.8%).
• Common Equity Tier 1 (CET1) among the highest in Europe at 19.7%⁴ (+10.8 points excluding P2G compared to regulatory requirements as of January 1, 2026).

VALUE SHARING WITH EMPLOYEES AND SOCIETY:

• Record Societal dividend of €622 million in 2025 (15.2% of net income in 2024); €1.6 billion since 2023.
• The Societal dividend for 2026 set at €633 million (15% of 2025 net income after tax).
• 20 new engagements by the benefit corporation, extending the previous ones, all of which have been achieved.
• A stronger social pact to invest in employees and attract new talent.

Results for the year ended December 31, 2025	12/31/2025	12/31/2024	Change
Net revenue at an all-time high	€17.723bn	€16.610bn	+6.7 ,
of which retail banking	€13.239bn	€12.347bn	+7.2-
of which insurance	€1.548bn	€1.439bn	+7.6-
of which specialized business lines 2	€2.932bn	€2.916bn	+0.5-
General operating expenses under control	-€9.808bn	-€9.259bn	+5.9 ,
Stabilized cost of risk	-€1.828bn	-€2.071bn	-11.8 ,
Income before tax	€6.052bn	€5.325bn	+13.6 ,
Record net income	€4.218bn	€4.124bn	+2.3 ,
of which income tax surcharge	-€377m	N/A	N/A
Net income excluding surcharge	€4.595bn	€4.124bn	+11.4 ,

INCREASE IN LENDING3: + 2.3%
Home loans	Equipment loans	Consumer credit
€268.0bn	€150.7bn	€59.5bn
+1.4%	+4.2%	+3.7%
Production up +16.2% (€76.3 billion), driven by home loans.

A VERY SOLID FINANCIAL STRUCTURE
CET1 ratio4	Shareholders' equity
19.7%	€70.3bn

-