Credit Agricole SA reported second-quarter net income of EUR2.1 billion, up 1.4% on a proforma basis, driven by record CASA revenue of EUR7.4 billion, a 7.7% increase quarter-over-quarter. The group achieved record overall revenue of EUR10.9 billion, up 12.9%, with gross operating income rising 25.8% year-on-year. The cost-to-income ratio for CASA improved to 54.7% in the first half, and return on tangible equity reached 14.3%, exceeding medium-term targets. An interim dividend of EUR0.57 per share was declared, payable on October 15, reflecting strong capital generation. The group's CET1 ratio stood at 17.2%, while CASA's CET1 ratio remained stable at 11.3%, above its 11% target despite a 33-basis-point impact from increasing its stake in Banco BPM to 29.3%. Insurance premium income hit a record EUR15 billion, and investment banking revenue grew over 63% excluding foreign exchange effects. The cost of risk remained stable at 30 basis points on outstanding, with incurred cost of risk at EUR571 million.
Credit Agricole SARecord Q2 revenue and raised interim dividend reflect strong financial performance and capital generation.