Crédit Agricole Nord de France: Net Income Up 61% to €194.4 Million in First Half 2026
The regional mutual credit union of Nord and Pas-de-Calais reported a net income attributable to the group of €194.4 million in the first half of 2026, up €73.8 million year-on-year.
This increase is supported by a recovery in net interest margin in a more favorable interest rate environment and a base effect linked to debt restructuring operations carried out in 2025.
Net Banking Income Up €65.4 Million Year-on-Year
Consolidated net banking income stands at €453.1 million, up 16.9% (€65.4 million) compared to €387.7 million in the first half of 2025. This performance is driven by the regional credit union's bancassurance business, which benefits from a favorable base effect linked to debt restructuring operations carried out in 2025 and a favorable interest rate environment supporting net interest margin recovery.
General operating expenses declined by €4.8 million to €223.4 million, following the completion of the sale of Square Habitat Nord de France in the first quarter of 2026 (impact of €7.3 million). Excluding this effect, the increase in expenses is limited to €2.5 million. Gross operating profit stands at €229.6 million, up €70.1 million (44.0%).
The cost of risk stands at €26.0 million, compared to €28.4 million in June 2025, representing a level of 8 basis points.
Credit and Savings in Growth
Net income attributable to the group reaches €194.4 million, up 61.3% (€73.8 million) year-on-year. Income taxes amount to €33.4 million, up €23.1 million, in line with the growth in the bancassurance business results and the exceptional contribution on profits, provisioned at €5.3 million at the regional credit union level and €1.8 million for the CASA Group surtax.
On the commercial front, credit originations stand at €2.3 billion at end-June 2026, up 21.7% year-on-year, with strong momentum in the housing market (+29.4% since January 1st). Savings deposits grew 4.3% over twelve months, reaching €41.1 billion, driven by life insurance (+9.6%).
Total customer numbers reach 1.16 million, up 1.3% compared to 2025, with nearly 33,210 new customers since January 1st.
Corporate Objective Expected to Be Achieved by End of 2026 with 18 Months' Advance
The regional credit union indicates that the earnings objective of its corporate project will be achieved by end of 2026 with 18 months' advance. It highlights several levers for the second half: its membership in the Crédit Agricole Group, sustained deposit collection, favorable insurance activity and transformations undertaken around simplification and operational efficiency.
From a prudential standpoint, the phased Common Equity Tier 1 (CET1) capital ratio stands at 29.50% on June 30, 2026, compared to 29.44% at December 31, 2025, above minimum requirements. Shareholders' equity reaches €6,557 million, up €254 million compared to end of 2025.
For the 2025 financial year, the general meeting of April 7, 2026 authorized the distribution of a dividend of €0.85 per certificate, paid on May 5, 2026. At June 30, 2026, the Cooperative Investment Certificate closed at €29.40, up 4.4% compared to December 31, 2025.
