2024 results: Crédit Mutuel Alliance Fédérale achieved its best-ever fiscal year in 2024 (€4.1 billion in net income) in a difficult environment

This solid performance was achieved in an unfavorable environment for retail banking in France. The banking networks were penalized by the post-Covid catch-up in corporate failures, provisions for non-proven risk and the squeeze on net interest margins. The insurance business grew strongly, with historic net income of €983 million. The specialized business lines also grew strongly, with net income of €1.1 billion (+30.0%).

General operating expenses are under control. They totaled -€9.3 billion (+0.9%), reflecting the Group's strategic investments and its strong social pact. With €66 billion in shareholders' equity and a CET1 of 18.8% at December 31, 2024, Crédit Mutuel Alliance Fédérale is once again one of the most solid banks in the Eurozone.

Crédit Mutuel Alliance Fédérale, the first financial institution to adopt the benefit corporation approach, has made its Societal Dividend a powerful tool for social commitment. In 2024, €574 million was earmarked to support entrepreneurs committed to the climate, offer inclusive banking and insurance products and support local associations as well as major NGOs.