Crédit Agricole Normandie-Seine: Net income of €98.4M as of end-September, versus €71.5M
Crédit Agricole Normandie-Seine published on October 28, 2026 financial statements as of end-September showing progress on its main balances: consolidated net income reached €98.4M, compared to €71.5M a year earlier. Social net banking income increased by €27.2M, of which €26.1M came from the overall intermediation margin.
According to the Regional Cooperative Bank, this margin benefited from improved credit yield and lower funding costs. On a consolidated basis, operating expenses remained stable (€200.9M versus €200.5M), and cost of risk remained close to its end-September 2025 level.
These financial statements come in a context described by the bank as marked by geopolitical tensions in the Middle East and the halt in central bank accommodation. As of September 30, 2026, the cooperative investment certificate (CCI) price stood at €151, down 9.1% compared to June 30, 2026.
Social net banking income of €320.3M driven by intermediation margin
On a social basis, net banking income stood at €320.3M for the first nine months of 2026, compared to €293.1M a year earlier. The overall intermediation margin is the primary driver: it increased by €26.1M to reach €105.3M.
Commissions totaled €131.6M, supported notably by property and casualty insurance and savings. According to the bank, life insurance helped offset the impact of regulatory changes on banking services. Net banking income from own funds and ancillary items reached €83.4M, a historical high, driven by dividends from Crédit Agricole group shareholdings.
Operating expenses excluding profit-sharing increased by €3M to €184.7M, due to personnel costs and digital investments. Including profit-sharing, they reached €196.8M versus €192.2M. Gross operating profit thus rose from €100.9M to €123.5M.
Cost of risk adjusted for exceptional items stood at €27.4M, a level close to that of end-September 2025, for a default rate of 1.57%. After tax, social net income came in at €75.4M, versus €63.4M a year earlier.
Credit and deposit portfolios up 2.4%
The increase in income is supported by growing outstanding balances. Crédit Agricole Normandie-Seine originated over €1,900M in loans since the beginning of 2026, linked in particular to the recovery in the housing market and activity in specialized markets.
Credit outstanding reached €17.5bn, up 2.4% year-on-year, which represents its highest historical level according to the bank. Its credit market share stood at 31%, according to Banque de France data as of July 31, 2026.
Deposit outstanding increased in the same proportion, by 2.4%, to €23.18bn. According to the Regional Cooperative Bank, life insurance subscriptions helped contain the impact of geopolitical tensions on financial markets. Deposit market share remained stable at 28.2%.
The portfolio includes more than 700,000 clients (+1.4%), including more than 24,000 new customers since the beginning of the year and more than 294,000 members. In insurance, 38,500 new contracts brought the property and casualty portfolio to 381,500 contracts (+1.4%), while personal insurance policies approached 124,000 contracts (+1.3%).
On a consolidated basis, net income of €98.4M and LCR of 122.75%
On a consolidated basis, net banking income reached €337.4M versus €305.1M, and gross operating profit €136.5M versus €104.6M. The difference in net banking income compared to social accounts (+€17.0M) stems from the investment policy of own funds placed in consolidated subsidiaries (+€11.7M) and consolidation adjustments (+€5.3M).
Among these adjustments is the change in fair value of derivatives (+€10.7M). The transition to consolidated results also includes the reversal of the €8M provision for contingencies recorded under French standards. The RSS Louviers entity, a sub-subsidiary of CA Normandie Seine Foncière, entered the consolidation scope as of September 30, 2026.
On the funding side, customer resources represented 47.7% of total balance sheet, internal Crédit Agricole group resources 26.9% and short-term market resources 4%. The short-term negotiable debt securities program (NEU CP) is capped at €1.5bn.
The liquidity ratio LCR, calculated as the average of the last twelve months, stood at 122.75% against a regulatory requirement of 100%. The financial statements, undergoing limited review by the statutory auditors, show consolidated net income of €98.4M as of end-September 2026, up 37.5% year-on-year.
