Media Press releases Results for the year ended December 31, 2023: Crédit Mutuel Alliance Fédérale turned in record [...]

Results for the year ended December 31, 2023: Crédit Mutuel Alliance Fédérale turned in record results in 2023, confirming the relevance of its strategic choices


Crédit Mutuel Alliance Fédérale completed its ensemble#nouveaumonde (together#today’s world) strategic plan in 2023 with historic results. For the first time ever, its net income reached €4.1 billion (+18.1%). Its net revenue surpassed €16 billion (+2.8%). These results reflect winning strategic choices in relation to diversification, innovation and commitment to environmental transformation and solidarity.

Crédit Mutuel Alliance Fédérale generated record results that confirm the relevance of its long-standing focus on a universal banking and insurance model. 2023 also marked the completion of the ensemble#nouveaumonde (together#today’s world) strategic plan it launched in 2019, the revised financial targets of which were reached if not surpassed. These results serve as further motivation as the group implements its new 2024-2027 strategic plan Ensemble Performant Solidaire (Togetherness Performance Solidarity).

The net revenue generated by the mutualist group illustrates good resilience in the retail banking activity, which made €12 billion (+1.7%, +€200m), and excellent performances by the specialized businesses lines (+15.3%, +€362m), in particular private banking, corporate and investment banking and TARGOBANK Germany (+11.7%). The insurance activities stabilized at a very high level (€1.2 billion, -1.5%) and remain the group's main diversification business.

In addition to being the first year of implementation of the societal dividend and with €439 million raised under the Environmental and Solidarity Revolution Fund, 2023's exceptional results will enable the mutualist group to speed up its commitments in 2024 with a societal dividend of €617 million earmarked to finance new entrepreneurial projects that help to combat global warming and to stem the rise in social inequality. In the space of two years, more than €1 billion has been mobilized through the societal dividend.

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1 The annual audit of the financial statements for the year ended 12/31/2023 is under way.
2 Estimated at December 31, 2023.
3 Amount of the incentive bonus, profit sharing, top-up contribution and value-sharing bonus awarded to employees of the common corporate platform in France in respect of 2022 net income.
4 Share of 2022 consolidated net income allocated to the societal dividend in 2023.
5 Collective increases since 01/01/2022 within the scope of the common corporate platform in France excluding individual increases and value-sharing bonus.


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