Credit Agricole is targeting an additional 1 million retail banking customers by 2025 and net profits of more than € 6 billion as France’s second largest bank unveils a new strategic roadmap.
“Our trajectory for 2025 is a strengthening trajectory, based on strong organic growth momentum, targeting more than 1 million additional customers,” said Xavier Musca, Credit Agricole ‘s Deputy Chief Executive Officer.
The bank also stressed that it hopes to show net profits of more than 6 billion euros by 2025 and a return on tangible equity of more than 12%.
He added that he would allocate about 20 billion euros in information technology (IT) and digital spending during the period, including 1 billion euros in investment programs for technological transformation.
In February, Credit Agricole said it had surpassed the previous strategic target almost a year earlier, with net profits of 5.4 billion euros in 2021, well above the 5 billion euro target for the year.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
