Crédit Agricole Alpes Provence: net income up 14%, cost of risk up 39%
On 4 November 2026, Crédit Agricole Alpes Provence published its accounts as of the end of September, the reading of which comes down to a gap. In the individual accounts, gross operating income rises 24.8% to €209.6 million, while net income increases 14.1% to €118.0 million.
In between, the cost of risk rose from €43.2 million to €60.2 million over one year, an increase of 39.2%. The regional bank links this strengthening to an “uncertain economic context.” Under IFRS standards, net income attributable to the group rises 16% to €139.9 million.
Revenues up 12.4%, expenses up 2.9%
The growth in gross operating income is based on a difference in pace between revenues and costs. Individual net banking income increases 12.4% to €435.9 million, while operating expenses rise only 2.9% to €226.3 million.
This increase in revenues is supported by the interest margin, which grew 31.1% compared with 2025, and by commissions, up 3.0% over twelve months. The latter are driven by clients' take-up of banking, insurance and welfare services.
On a consolidated basis, the trend is similar: net banking income gains 12% to €451.8 million, and gross operating income 23% to €222.8 million.
The regional bank attributes the rise in expenses to inflation, to investments in development and transformation projects, and to its policy of sharing value with employees.
Cost of risk rises 39.2% due to provisioning
Individual provisions allocated amount to €41.1 million as of 30 September 2026, compared with €36.3 million a year earlier, the bank stating that it is strengthening its coverage of identified risks. Added to this is an allocation of €19 million to IFRS 9 provisions, bringing their outstanding amount to €256.6 million.
The ratio of credit outstandings in default stands at 2.04% as of 30 September 2026, up from 1.91% at the end of 2025. The regional bank places this development in a context of rising business failures. The coverage ratio for these outstandings reaches 52.2%.
In total, provisions set aside for credit risk amount to €476.9 million, to which are added €129.2 million of general banking risk reserves recognised under French accounting standards. The overall coverage of customer assets thus stands at 2.95%, while the tax charge rises 13.1%.
Loan outstandings up 4.4%, overall solvency at 21.7%
On the business side, total loan outstandings rise 4.4% and deposit collection outstandings 3.5%, including 7.3% for life insurance. The portfolio of insurance contracts increases 2.8% and payment services 4.2%.
The regional bank reports nearly 34,200 new clients since the beginning of the year, for a net growth of nearly 10,600 clients, as well as 8,322 home-financing projects. Consolidated total assets reach €27,923 million, up 3.9%.
The LCR liquidity ratio stands at 118.7% as of 30 September 2026, and the overall solvency ratio at 21.7% as of 30 June 2026, against a regulatory requirement (SREP) of 11.5%.
The dividend on the cooperative investment certificate paid on 26 April 2026 for 2025 amounts to €4.68, compared with €4.14 a year earlier; the certificate was worth €120.40 as of 30 September 2026.
Over nine months, the rise in revenues has thus absorbed the strengthening of provisioning, but the latter has brought the growth in net income clearly below that of gross operating income.
