{"id":27549,"date":"2026-03-04T11:19:05","date_gmt":"2026-03-04T11:19:05","guid":{"rendered":"https:\/\/www.asquarepartners.com\/?p=27549"},"modified":"2026-03-04T11:55:07","modified_gmt":"2026-03-04T11:55:07","slug":"resultats-annuels-2025","status":"publish","type":"post","link":"https:\/\/www.asquarepartners.com\/en\/resultats-annuels-2025\/","title":{"rendered":"R\u00e9sultats annuels 2025\uff5cFrance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27549\" class=\"elementor elementor-27549\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-caeff9d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"caeff9d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a29bfb2\" data-id=\"a29bfb2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-db03839 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"db03839\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Le mois dernier, les grands acteurs fran\u00e7ais de la banque et de l\u2019assurance ont d\u00e9voil\u00e9 leurs r\u00e9sultats annuels 2025, une ann\u00e9e marqu\u00e9e par des performances globalement solides et des niveaux de rentabilit\u00e9 souvent sup\u00e9rieurs aux objectifs fix\u00e9s.<\/p><p>Dans un environnement encore travers\u00e9 par des incertitudes macro\u00e9conomiques et g\u00e9opolitiques, ces publications mettent en lumi\u00e8re des mod\u00e8les diversifi\u00e9s capables d\u2019absorber la volatilit\u00e9, de ma\u00eetriser le co\u00fbt du risque et de pr\u00e9server des ratios de solvabilit\u00e9 confortables.<\/p><ul><li><a href=\"#allianz\">Allianz<\/a><\/li><li><a href=\"#cnp\">CNP<\/a><\/li><li><a href=\"#axa\">Axa<\/a><\/li><li><a href=\"#soge\">Soci\u00e9t\u00e9 G\u00e9n\u00e9rale<\/a><\/li><li><a href=\"#credit\">Cr\u00e9dit Mutuel<\/a><\/li><li><a href=\"#bpce\">BPCE<\/a><\/li><li><a href=\"#agricole\">Cr\u00e9dit Agricole<\/a><\/li><li><a href=\"#bnp\">BNP<\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6a4039f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6a4039f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-03e2371\" data-id=\"03e2371\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-90a1b45 elementor-widget elementor-widget-spacer\" data-id=\"90a1b45\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a577bb6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a577bb6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b2a71b\" data-id=\"2b2a71b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d2e638b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d2e638b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-d9cd36c\" data-id=\"d9cd36c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-efd2d41 elementor-widget elementor-widget-menu-anchor\" data-id=\"efd2d41\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"allianz\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af79fe4 elementor-widget elementor-widget-heading\" data-id=\"af79fe4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Allianz r\u00e9alise un b\u00e9n\u00e9fice op\u00e9rationnel record de 17,4 milliards d\u2019euros<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d62d034 elementor-widget elementor-widget-text-editor\" data-id=\"d62d034\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/newsroom.allianz.fr\/publication-des-resultats-financiers-annuels-2025-du-groupe-allianz\/?lang=fra\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec66a12 elementor-widget elementor-widget-text-editor\" data-id=\"ec66a12\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En 2025, Allianz enregistre un b\u00e9n\u00e9fice op\u00e9rationnel record de 17,4 milliards d\u2019euros, en hausse de 8,4 %, marquant un excellent d\u00e9marrage de son nouveau cycle strat\u00e9gique. (<a href=\"https:\/\/www.youtube.com\/live\/SUzpycY-W4o\">Voir la conf\u00e9rence<\/a>)<\/span><\/p><p><span style=\"font-weight: 400;\">Quelques chiffres cl\u00e9s :\u00a0<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le volume d\u2019activit\u00e9 total progresse de 8,1 % pour atteindre 186,9 milliards d\u2019euros, port\u00e9 par l\u2019ensemble des segments.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le r\u00e9sultat net part du groupe augmente de 10,9 % \u00e0 11,1 milliards d\u2019euros.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le b\u00e9n\u00e9fice par action progresse de 12,5 % \u00e0 28,61 euros.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">La rentabilit\u00e9 des fonds propres (RoE) atteint 18,1 %.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le ratio de solvabilit\u00e9 II s\u2019am\u00e9liore fortement \u00e0 218 %, en hausse de 10 points, soutenu par une g\u00e9n\u00e9ration de capital solide.<\/span><\/li><\/ul><div>\u00a0<\/div><p><span style=\"font-weight: 400;\">Au quatri\u00e8me trimestre, la croissance reste diversifi\u00e9e :<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le volume d\u2019activit\u00e9 progresse de 6,5 %.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\">Le b\u00e9n\u00e9fice op\u00e9rationnel augmente de 3 % \u00e0 4,3 milliards d\u2019euros, port\u00e9 notamment par la branche Dommages.<\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Le r\u00e9sultat net part du groupe progresse de 12,2 % \u00e0 2,7 milliards d\u2019euros.<\/span><p>\u00a0<\/p><\/li><\/ul><p><span style=\"font-weight: 400;\">Pour 2026, Allianz vise un b\u00e9n\u00e9fice op\u00e9rationnel de 17,4 milliards d\u2019euros \u00b1 1 milliard.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Le management proposera un dividende de 17,10 euros par action (+11 % par rapport \u00e0 2024). Un nouveau programme de rachat d\u2019actions pouvant atteindre 2,5 milliards d\u2019euros a \u00e9galement \u00e9t\u00e9 annonc\u00e9.<\/span><\/p><p><span style=\"font-weight: 400;\">Oliver B\u00e4te, CEO, souligne que ces r\u00e9sultats records d\u00e9montrent la capacit\u00e9 du groupe \u00e0 performer de mani\u00e8re fiable, m\u00eame dans un environnement incertain et fragment\u00e9. Il insiste sur la solidit\u00e9 financi\u00e8re, la r\u00e9silience op\u00e9rationnelle, la puissance de la marque, la fid\u00e9lit\u00e9 record des clients et l\u2019engagement des collaborateurs.<\/span><\/p><p><span style=\"font-weight: 400;\">Selon lui, la priorit\u00e9 strat\u00e9gique d\u2019Allianz reste d\u2019offrir une protection accessible et cr\u00e9atrice de valeur, afin de garantir s\u00e9curit\u00e9 et libert\u00e9 dans un contexte mondial plus polaris\u00e9.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff8d676 elementor-widget elementor-widget-image\" data-id=\"ff8d676\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1018\" height=\"575\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.17.37.png\" class=\"attachment-full size-full wp-image-27552\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.17.37.png 1018w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.17.37-300x169.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.17.37-768x434.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.17.37-18x10.png 18w\" sizes=\"(max-width: 1018px) 100vw, 1018px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ec1e562\" data-id=\"ec1e562\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-59363bc elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"59363bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"208\" height=\"57\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/Allianz-e1690794670881.png\" class=\"attachment-large size-large wp-image-14167\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-23a2a63 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"23a2a63\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c8a51b1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c8a51b1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c06fb92\" data-id=\"c06fb92\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-b2c3cb7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2c3cb7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a5033c2\" data-id=\"a5033c2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2d01152 elementor-widget elementor-widget-menu-anchor\" data-id=\"2d01152\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"cnp\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e6249e elementor-widget elementor-widget-heading\" data-id=\"0e6249e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">CNP : une ann\u00e9e 2025 record port\u00e9e par la France et La Banque Postale <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0e7b0d elementor-widget elementor-widget-text-editor\" data-id=\"c0e7b0d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.cnp.fr\/cnp\/content\/download\/13719\/file\/CNP-Assurances-Resultats-annuels-2025.pdf\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60ebc95 elementor-widget elementor-widget-text-editor\" data-id=\"60ebc95\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>CNP Assurances cl\u00f4ture l\u2019exercice 2025 sur un chiffre d\u2019affaires record de plus de 39 milliards d\u2019euros, en hausse de 8,6 % \u00e0 p\u00e9rim\u00e8tre constant. Malgr\u00e9 un l\u00e9ger recul du r\u00e9sultat net part du groupe \u00e0 1,49 milliard d\u2019euros (impact\u00e9 par une surtaxe exceptionnelle de 186 millions d\u2019euros), la performance sous-jacente demeure solide, avec un r\u00e9sultat en progression de 6 % hors surtaxe.<\/p><p>La dynamique est principalement tir\u00e9e par la France, qui repr\u00e9sente 68 % du chiffre d\u2019affaires total (26,8 milliards d\u2019euros, +13,3 %). L\u2019\u00e9pargne retraite constitue le principal moteur de croissance, avec une progression \u00e0 la fois sur les fonds euros et les unit\u00e9s de compte. La collecte brute en assurance-vie et retraite atteint 20,8 milliards d\u2019euros, tandis que la collecte nette s\u2019\u00e9tablit \u00e0 2,3 milliards d\u2019euros, port\u00e9e par les unit\u00e9s de compte.<\/p><p>La Banque Postale confirme son r\u00f4le strat\u00e9gique en r\u00e9alisant 32 % du chiffre d\u2019affaires du groupe et en affichant une collecte nette record. L\u2019int\u00e9gration de CNP Assurances Protection sociale, effective depuis janvier 2025, contribue \u00e9galement \u00e0 la croissance, avec pr\u00e8s de 900 millions d\u2019euros de collecte d\u00e8s sa premi\u00e8re ann\u00e9e.<\/p><p>\u00c0 l\u2019international, les performances sont contrast\u00e9es. En Europe (hors France), l\u2019activit\u00e9 est marqu\u00e9e par des cessions en Italie et \u00e0 Chypre, mais CNP Assicura renoue avec une collecte nette positive. En Am\u00e9rique latine, la croissance est soutenue par la retraite au Br\u00e9sil, malgr\u00e9 un environnement de march\u00e9 plus tendu.<\/p><p>Sur le plan extra-financier, le cycle strat\u00e9gique 2022-2025 affiche un taux d\u2019atteinte de 98 % des objectifs fix\u00e9s. Les investissements verts d\u00e9passent notamment l\u2019objectif initial, atteignant 33 milliards d\u2019euros, tandis que l\u2019index d\u2019\u00e9galit\u00e9 femmes-hommes demeure au plus haut niveau.<\/p><p>Avec une performance commerciale robuste, une forte contribution du march\u00e9 fran\u00e7ais et des engagements ESG largement tenus, CNP Assurances boucle ainsi un cycle strat\u00e9gique solide et ouvre une nouvelle phase de d\u00e9veloppement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1256b59 elementor-widget elementor-widget-image\" data-id=\"1256b59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"452\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54-1030x582.png\" class=\"attachment-large size-large wp-image-27551\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54-1030x582.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54-300x170.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54-768x434.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54-18x10.png 18w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-03-a-14.48.54.png 1444w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e90c693\" data-id=\"e90c693\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d296a0 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"5d296a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"266\" height=\"190\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/CNP-Assurances.png\" class=\"attachment-large size-large wp-image-13611\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/CNP-Assurances.png 266w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/CNP-Assurances-260x185.png 260w\" sizes=\"(max-width: 266px) 100vw, 266px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c41118e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c41118e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3905f27\" data-id=\"3905f27\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8772429 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8772429\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3fd480a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3fd480a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5c7c986\" data-id=\"5c7c986\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-51f1303 elementor-widget elementor-widget-menu-anchor\" data-id=\"51f1303\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"axa\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-576fba1 elementor-widget elementor-widget-heading\" data-id=\"576fba1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">AXA publie des r\u00e9sultats records, avec une hausse du r\u00e9sultat op\u00e9rationnel par action en haut de sa fourchette cible<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1ba7c8 elementor-widget elementor-widget-text-editor\" data-id=\"b1ba7c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.axa.com\/fr\/presse\/communiques-de-presse\/2025-resultats-annuels\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29d7119 elementor-widget elementor-widget-text-editor\" data-id=\"29d7119\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AXA signe une ann\u00e9e 2025 de tr\u00e8s forte performance, avec des primes brutes \u00e9mises et autres revenus atteignant 116 milliards d\u2019euros, en hausse de 6 %. Le r\u00e9sultat op\u00e9rationnel progresse \u00e9galement de 6 % \u00e0 8,4 milliards d\u2019euros (+9 % hors AXA IM), tandis que le r\u00e9sultat op\u00e9rationnel par action s\u2019\u00e9tablit \u00e0 3,86 euros, en hausse de 8 %, en haut de la fourchette cible du plan strat\u00e9gique.<\/p><p>Le ratio de solvabilit\u00e9 II atteint 224 % fin 2025 (+9 points), t\u00e9moignant d\u2019une solidit\u00e9 bilancielle renforc\u00e9e.<span style=\"letter-spacing: 0.4px; font-size: 1rem;\"><br \/><\/span><\/p><p>\u00a0<\/p><p><strong><span style=\"letter-spacing: 0.4px; font-size: 1rem;\">Performance par activit\u00e9<\/span><\/strong><\/p><p>L\u2019assurance dommages affiche des r\u00e9sultats exceptionnels, combinant croissance \u00e9quilibr\u00e9e, marges \u00e9lev\u00e9es, am\u00e9lioration du ratio de frais g\u00e9n\u00e9raux et progression du r\u00e9sultat financier. AXA XL am\u00e9liore ses profits tout en maintenant des marges solides.<br \/>En assurance vie et sant\u00e9, le r\u00e9sultat progresse de 7 %, avec une hausse marqu\u00e9e de 17 % en sant\u00e9, malgr\u00e9 un impact fiscal d\u00e9favorable au Mexique. Les premiers effets de la strat\u00e9gie de relance en assurance vie sont visibles. Les investissements dans l\u2019automatisation et l\u2019intelligence artificielle contribuent \u00e9galement aux gains d\u2019efficacit\u00e9.<\/p><p><br \/><b>Gestion du capital et perspectives<\/b><\/p><p>AXA proposera un dividende de 2,32 euros par action (+8 %) et lance un programme de rachat d\u2019actions pouvant atteindre 1,25 milliard d\u2019euros. Le programme de 3,8 milliards d\u2019euros li\u00e9 \u00e0 la cession d\u2019AXA IM a \u00e9t\u00e9 ex\u00e9cut\u00e9 int\u00e9gralement.<br \/>Pour 2026, le groupe vise une croissance du r\u00e9sultat op\u00e9rationnel par action dans le haut de sa fourchette cible de 6 % \u00e0 8 %. Un nouveau plan strat\u00e9gique pour la p\u00e9riode 2027-2029 sera pr\u00e9sent\u00e9 en septembre 2026.<br \/>Port\u00e9 par la diversification de ses activit\u00e9s, la discipline technique et financi\u00e8re et une solvabilit\u00e9 \u00e9lev\u00e9e, AXA confirme ainsi sa capacit\u00e9 \u00e0 g\u00e9n\u00e9rer de la valeur durablement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-882c21b elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"882c21b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1421\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1421\" aria-expanded=\"false\">Chiffres cl\u00e9s<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1422\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1422\" aria-expanded=\"false\">Assurance Vie et Sant\u00e9<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1423\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1423\" aria-expanded=\"false\">Dommages<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1421\" aria-expanded=\"false\">Chiffres cl\u00e9s<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1421\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1421\" tabindex=\"0\" hidden=\"false\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27562\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927.png\" alt=\"\" width=\"987\" height=\"446\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927.png 987w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927-300x136.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927-768x347.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.01-e1772623455927-18x8.png 18w\" sizes=\"(max-width: 987px) 100vw, 987px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1422\" aria-expanded=\"false\">Assurance Vie et Sant\u00e9<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1422\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1422\" tabindex=\"0\" hidden=\"hidden\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27560\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40.png\" alt=\"\" width=\"972\" height=\"508\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40.png 972w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40-300x157.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40-768x401.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.40-18x9.png 18w\" sizes=\"(max-width: 972px) 100vw, 972px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1423\" aria-expanded=\"false\">Dommages<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1423\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1423\" tabindex=\"0\" hidden=\"hidden\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27561\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383.png\" alt=\"\" width=\"1023\" height=\"367\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383.png 1023w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383-300x108.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383-768x276.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.23.34-e1772623514383-18x6.png 18w\" sizes=\"(max-width: 1023px) 100vw, 1023px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3ce0580\" data-id=\"3ce0580\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-81a078e elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"81a078e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/03\/Axa.png\" class=\"attachment-large size-large wp-image-22622\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/03\/Axa.png 800w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/03\/Axa-300x225.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2025\/03\/Axa-768x576.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c8a76e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c8a76e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-147327c\" data-id=\"147327c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-443dfa9 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"443dfa9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4b1e76b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4b1e76b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-d8344ca\" data-id=\"d8344ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3762813 elementor-widget elementor-widget-menu-anchor\" data-id=\"3762813\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"soge\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44c1dea elementor-widget elementor-widget-heading\" data-id=\"44c1dea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Societe Generale : un exercice 2025 marqu\u00e9 par une am\u00e9lioration structurelle des fondamentaux et une performance d\u00e9passant l\u2019ensemble des objectifs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b92ad95 elementor-widget elementor-widget-text-editor\" data-id=\"b92ad95\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.societegenerale.com\/sites\/default\/files\/resultats-publication\/fr\/2026-02\/t4-2025-communique-presse-fr.pdf\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e80f04 elementor-widget elementor-widget-text-editor\" data-id=\"5e80f04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Soci\u00e9t\u00e9 G\u00e9n\u00e9rale publie pour 2025 des r\u00e9sultats records, avec un produit net bancaire de 27,3 milliards d\u2019euros (+6,8 % hors cessions) et un r\u00e9sultat net part du Groupe de 6,0 milliards d\u2019euros (+43 %). Au-del\u00e0 de la performance absolue, l\u2019exercice illustre surtout une am\u00e9lioration structurelle de la rentabilit\u00e9, de l\u2019efficacit\u00e9 op\u00e9rationnelle et du profil de risque<\/span><span style=\"font-weight: 400;\">.<\/span><\/p><p><span style=\"font-weight: 400;\">La rentabilit\u00e9 franchit un cap avec un ROTE de 10,2 % (9,6 % hors \u00e9l\u00e9ments non r\u00e9currents), sup\u00e9rieur \u00e0 l\u2019objectif initial d\u2019environ 9 %. Cette progression repose sur une croissance organique des revenus dans l\u2019ensemble des m\u00e9tiers, combin\u00e9e \u00e0 une baisse des co\u00fbts de 2,0 % (hors cessions) et \u00e0 une nette am\u00e9lioration du coefficient d\u2019exploitation, ramen\u00e9 \u00e0 63,6 % contre 69 % en 2024.<\/span><\/p><p><span style=\"font-weight: 400;\">Sur le plan du risque, le co\u00fbt du risque s\u2019\u00e9tablit \u00e0 26 points de base, dans le bas de la fourchette cible de 25 \u00e0 30 pb. Le taux brut d\u2019encours douteux ressort \u00e0 2,81 % avec un taux de couverture net de 82 %, traduisant une gestion prudente et ma\u00eetris\u00e9e des expositions. Les encours pond\u00e9r\u00e9s des risques (RWA) atteignent 393 milliards d\u2019euros, tandis que le ratio CET1 s\u2019\u00e9l\u00e8ve \u00e0 13,5 %, soit environ 320 points de base au-dessus des exigences r\u00e9glementaires.<\/span><\/p><p><span style=\"font-weight: 400;\">Par m\u00e9tier, la Banque de d\u00e9tail France, Banque priv\u00e9e et Assurances affiche une forte progression de la rentabilit\u00e9, la Banque de Grande Client\u00e8le maintient un niveau \u00e9lev\u00e9 de performance avec un co\u00fbt du risque contenu, et les activit\u00e9s internationales poursuivent l\u2019am\u00e9lioration de leur profil de risque.<\/span><\/p><p><span style=\"font-weight: 400;\">Pour 2026, le Groupe vise une croissance des revenus sup\u00e9rieure \u00e0 2 %, une nouvelle baisse des co\u00fbts d\u2019environ 3 %, un coefficient d\u2019exploitation inf\u00e9rieur \u00e0 60 % et un ROTE sup\u00e9rieur \u00e0 10 %. La trajectoire engag\u00e9e confirme ainsi une dynamique de rentabilit\u00e9 durable, adoss\u00e9e \u00e0 une discipline capitalistique et \u00e0 une gestion des risques ma\u00eetris\u00e9e.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c8774a elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"8c8774a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1471\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1471\" aria-expanded=\"false\">Chiffres cl\u00e9s<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1472\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1472\" aria-expanded=\"false\">Structure financi\u00e8re<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1473\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1473\" aria-expanded=\"false\">R\u00e9sultats net par m\u00e9tier<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1471\" aria-expanded=\"false\">Chiffres cl\u00e9s<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1471\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1471\" tabindex=\"0\" hidden=\"false\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27568\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13.png\" alt=\"\" width=\"1022\" height=\"591\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13.png 1022w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13-300x173.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13-768x444.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.13-18x10.png 18w\" sizes=\"(max-width: 1022px) 100vw, 1022px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1472\" aria-expanded=\"false\">Structure financi\u00e8re<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1472\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1472\" tabindex=\"0\" hidden=\"hidden\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27567\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41.png\" alt=\"\" width=\"1000\" height=\"478\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41.png 1000w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41-300x143.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41-768x367.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.27.41-18x9.png 18w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-1473\" aria-expanded=\"false\">R\u00e9sultats net par m\u00e9tier<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1473\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1473\" tabindex=\"0\" hidden=\"hidden\"><p><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27569\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55.png\" alt=\"\" width=\"1037\" height=\"285\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55.png 1037w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55-300x82.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55-1030x283.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55-768x211.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.28.55-18x5.png 18w\" sizes=\"(max-width: 1037px) 100vw, 1037px\" \/><\/a><\/p><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-fee8282\" data-id=\"fee8282\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aaedc58 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"aaedc58\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"489\" height=\"103\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/societe-generale.png\" class=\"attachment-large size-large wp-image-14227\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/societe-generale.png 489w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/societe-generale-300x63.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/societe-generale-450x95.png 450w\" sizes=\"(max-width: 489px) 100vw, 489px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d1d124e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1d124e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c198ef5\" data-id=\"c198ef5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4481d7 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"b4481d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2ff3f47 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ff3f47\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ffc39cf\" data-id=\"ffc39cf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4b6e29 elementor-widget elementor-widget-menu-anchor\" data-id=\"b4b6e29\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"credit\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41d1491 elementor-widget elementor-widget-heading\" data-id=\"41d1491\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Port\u00e9 par la croissance de son PNB, Cr\u00e9dit Mutuel Alliance F\u00e9d\u00e9rale r\u00e9alise un r\u00e9sultat net historique \u00e0 4,2 milliards d\u2019euros en 2025<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-756c40a elementor-widget elementor-widget-text-editor\" data-id=\"756c40a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.creditmutuel.fr\/fr\/alliancefederale\/presse\/communiques-de-presse\/resultats-31-decembre-2025.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1601ed elementor-widget elementor-widget-text-editor\" data-id=\"e1601ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Cr\u00e9dit Mutuel Alliance F\u00e9d\u00e9rale publie pour 2025 un r\u00e9sultat net historique de 4,2 milliards d\u2019euros (+2,3 %). Hors surtaxe exceptionnelle d\u2019imp\u00f4t sur les soci\u00e9t\u00e9s (377 M\u20ac), la progression atteint +11,4 %, traduisant une dynamique op\u00e9rationnelle robuste.<\/p><p>Le produit net bancaire atteint un niveau record de 17,7 milliards d\u2019euros (+6,7 %), port\u00e9 par la banque de d\u00e9tail (+7,2 %) et l\u2019assurance (+7,6 %). La croissance des revenus d\u00e9passe celle des frais g\u00e9n\u00e9raux (+6,7 % vs +5,9 %), g\u00e9n\u00e9rant un effet ciseau favorable et un coefficient d\u2019exploitation de 55,3 %, parmi les meilleurs du secteur fran\u00e7ais.<\/p><p>Sur le plan du risque, le co\u00fbt du risque recule de 11,8 % \u00e0 1,8 milliard d\u2019euros, dans un contexte \u00e9conomique pourtant exigeant. Les encours de cr\u00e9dits atteignent 539,2 milliards d\u2019euros (+2,3 %), tir\u00e9s notamment par l\u2019habitat (268 Md\u20ac). Le ratio cr\u00e9dits\/d\u00e9p\u00f4ts ressort \u00e0 110,8 %, refl\u00e9tant une dynamique commerciale soutenue.<\/p><p>La solidit\u00e9 bilancielle demeure un point fort majeur : le ratio CET1 s\u2019\u00e9tablit \u00e0 19,7 %, l\u2019un des plus \u00e9lev\u00e9s en Europe, avec 70,3 milliards d\u2019euros de capitaux propres. Ce niveau offre une capacit\u00e9 d\u2019absorption des chocs particuli\u00e8rement confortable.<\/p><p>Le mod\u00e8le mutualiste continue par ailleurs de renforcer la diversification des revenus, notamment via le d\u00e9ploiement du mod\u00e8le de bancassurance en Allemagne (int\u00e9gration d\u2019OLB d\u00e9but 2026) et la mont\u00e9e en puissance des activit\u00e9s d\u2019assurance.<\/p><p>\u00c0 mi-parcours du plan strat\u00e9gique 2024-2027, Cr\u00e9dit Mutuel Alliance F\u00e9d\u00e9rale confirme ainsi une trajectoire combinant croissance organique, discipline du risque, efficacit\u00e9 op\u00e9rationnelle et tr\u00e8s forte capitalisation des fondamentaux particuli\u00e8rement solides dans l\u2019environnement actuel.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f80f0f5 elementor-widget elementor-widget-image\" data-id=\"f80f0f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"461\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.34.20.png\" class=\"attachment-large size-large wp-image-27570\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.34.20.png 950w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.34.20-300x173.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.34.20-768x442.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.34.20-18x10.png 18w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-36c72df\" data-id=\"36c72df\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8eacfb1 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"8eacfb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/credit-mutuel-1030x579.jpg\" class=\"attachment-large size-large wp-image-14146\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/credit-mutuel-1030x579.jpg 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/credit-mutuel-705x397.jpg 705w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/credit-mutuel-450x253.jpg 450w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f213ae0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f213ae0\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1dee81c\" data-id=\"1dee81c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f06aab elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"4f06aab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c85b5e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c85b5e5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-eee091e\" data-id=\"eee091e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-04b200e elementor-widget elementor-widget-menu-anchor\" data-id=\"04b200e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"bpce\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-95b9476 elementor-widget elementor-widget-heading\" data-id=\"95b9476\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Le Groupe BPCE enregistre en 2025 ses meilleurs r\u00e9sultats depuis sa cr\u00e9ation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3954586 elementor-widget elementor-widget-text-editor\" data-id=\"3954586\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/newsroom.groupebpce.fr\/actualites\/resultats-annuels-et-du-t4-2025-du-groupe-bpce-95a8d-7b707.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0095b84 elementor-widget elementor-widget-text-editor\" data-id=\"0095b84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Groupe BPCE enregistre en 2025 ses meilleurs r\u00e9sultats depuis sa cr\u00e9ation, avec un produit net bancaire de 25,7 milliards d\u2019euros et un r\u00e9sultat net de 4,1 milliards d\u2019euros, en hausse de 15 %. La performance s\u2019appuie sur une dynamique commerciale soutenue dans l\u2019ensemble des m\u00e9tiers et sur une am\u00e9lioration tangible de l\u2019efficacit\u00e9 op\u00e9rationnelle.<\/p><p><br \/><b> Banque de proximit\u00e9 et assurance : croissance soutenue des volumes<\/b><\/p><p>Les revenus de la banque de proximit\u00e9 progressent de 14 % sur l\u2019ann\u00e9e (16 % au quatri\u00e8me trimestre), port\u00e9s par le d\u00e9veloppement commercial et la hausse de la marge nette d\u2019int\u00e9r\u00eat. Les Banques Populaires et les Caisses d\u2019\u00c9pargne accueillent 820 000 nouveaux clients.<br \/>La production de cr\u00e9dits aux m\u00e9nages et aux entreprises atteint 102 milliards d\u2019euros (+20 %), tandis que les d\u00e9p\u00f4ts progressent de 14 milliards d\u2019euros pour atteindre 707 milliards d\u2019euros \u00e0 fin 2025.<\/p><p><span style=\"letter-spacing: 0.4px; font-size: 1rem;\">En assurance, la collecte brute en assurance-vie s\u2019\u00e9l\u00e8ve \u00e0 16 milliards d\u2019euros et les primes en non-vie progressent de 11 % sur un an. Les activit\u00e9s Solutions &amp; Expertises Financi\u00e8res affichent une forte croissance des revenus (+33 %), soutenue par le d\u00e9veloppement du cr\u00e9dit \u00e0 la consommation, du leasing et de l\u2019affacturage. Les activit\u00e9s Digital &amp; Payments enregistrent une progression de 7 % du PNB, avec une dynamique marqu\u00e9e dans les paiements.<\/span><\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">\u00a0<\/b><\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">Global Financial Services : performances record<\/b><\/p><p>Les activit\u00e9s mondiales affichent une croissance du PNB de 7 % en 2025 \u00e0 change constant. La Banque de grande client\u00e8le atteint 4,8 milliards d\u2019euros de revenus, soutenue par la forte performance des activit\u00e9s de march\u00e9s (+15 %), tant en Equity qu\u2019en Fixed Income.<br \/>Dans la gestion d\u2019actifs, Natixis Investment Managers enregistre pour la deuxi\u00e8me ann\u00e9e cons\u00e9cutive une collecte nette record de 40 milliards d\u2019euros. Les actifs sous gestion moyens progressent de 8 % pour atteindre 1 323 milliards d\u2019euros \u00e0 fin d\u00e9cembre 2025. Le PNB de la gestion d\u2019actifs et de fortune s\u2019\u00e9tablit \u00e0 3,5 milliards d\u2019euros, en hausse de 3 % \u00e0 change constant.<\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">\u00a0<\/b><\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">Solidit\u00e9 financi\u00e8re renforc\u00e9e<\/b><\/p><p>Le coefficient d\u2019exploitation s\u2019am\u00e9liore nettement \u00e0 65,6 % sur l\u2019ann\u00e9e (64,8 % au quatri\u00e8me trimestre), en recul de pr\u00e8s de 4 points sur un an, traduisant une bonne ma\u00eetrise des charges tout en maintenant les investissements strat\u00e9giques.<br \/>Le co\u00fbt du risque demeure contenu \u00e0 28 points de base en 2025 (30 pb au T4), refl\u00e9tant l\u2019ancrage du groupe dans l\u2019\u00e9conomie fran\u00e7aise.<br \/>La solidit\u00e9 bilancielle est confirm\u00e9e par un ratio CET1 en hausse \u00e0 16,5 % \u00e0 fin d\u00e9cembre 2025, accompagn\u00e9 de r\u00e9serves de liquidit\u00e9 \u00e9lev\u00e9es (305 milliards d\u2019euros).<br \/>En 2025, BPCE combine ainsi croissance organique, diversification internationale et discipline financi\u00e8re. La trajectoire engag\u00e9e dans le cadre du plan strat\u00e9gique Vision 2030 confirme un mod\u00e8le coop\u00e9ratif performant, adoss\u00e9 \u00e0 une rentabilit\u00e9 en progression et \u00e0 des fondamentaux prudentiels robustes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9a9983 elementor-widget elementor-widget-image\" data-id=\"a9a9983\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"402\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.37.32.png\" class=\"attachment-large size-large wp-image-27575\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.37.32.png 888w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.37.32-300x151.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.37.32-768x386.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.37.32-18x9.png 18w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b636834\" data-id=\"b636834\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dc89b59 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"dc89b59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"223\" height=\"85\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/10\/BPCE-e1668525330750.png\" class=\"attachment-large size-large wp-image-14229\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f602043 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f602043\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-879ca95\" data-id=\"879ca95\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2f00d4c elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2f00d4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-14c51ee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"14c51ee\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-891c514\" data-id=\"891c514\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d438f27 elementor-widget elementor-widget-menu-anchor\" data-id=\"d438f27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"agricole\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ded62fa elementor-widget elementor-widget-heading\" data-id=\"ded62fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Une activit\u00e9 soutenue, une rentabilit\u00e9 \u00e9lev\u00e9e et un profil de risque ma\u00eetris\u00e9 en 2025  pour Cr\u00e9dit Agricole<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d6c11e elementor-widget elementor-widget-text-editor\" data-id=\"7d6c11e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/newsroom.groupebpce.fr\/actualites\/resultats-annuels-et-du-t4-2025-du-groupe-bpce-95a8d-7b707.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed79d35 elementor-widget elementor-widget-text-editor\" data-id=\"ed79d35\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>En 2025, Cr\u00e9dit Agricole S.A. et le Groupe Cr\u00e9dit Agricole publient des r\u00e9sultats annuels \u00e9lev\u00e9s, confirmant la trajectoire du plan ACT 2028. Le Groupe Cr\u00e9dit Agricole enregistre un produit net bancaire de 39,6 milliards d\u2019euros (+3,9 %) et un r\u00e9sultat net part du Groupe de 8,75 milliards d\u2019euros (+1,3 %).<\/p><p>Pour Cr\u00e9dit Agricole S.A., le produit net bancaire atteint 28,1 milliards d\u2019euros (+3,3 %) et le r\u00e9sultat net part du Groupe s\u2019\u00e9tablit \u00e0 7,07 milliards d\u2019euros, globalement stable sur un an, malgr\u00e9 l\u2019impact de la premi\u00e8re consolidation de Banco BPM au quatri\u00e8me trimestre. Le RoTE ressort \u00e0 13,5 %, illustrant une rentabilit\u00e9 \u00e9lev\u00e9e et r\u00e9currente.<\/p><p><b><br \/>Dynamique commerciale et diversification des revenus<\/b><\/p><p>L\u2019activit\u00e9 demeure soutenue dans tous les m\u00e9tiers. En banque de proximit\u00e9, les encours de cr\u00e9dits atteignent 895 milliards d\u2019euros (+1,7 % sur un an en France et en Italie), avec un rebond marqu\u00e9 du cr\u00e9dit habitat en France. En gestion d\u2019actifs et assurance, les encours sous gestion progressent \u00e0 3 051 milliards d\u2019euros (+6,4 %), port\u00e9s par une collecte dynamique et une production \u00e9lev\u00e9e en \u00e9pargne\/retraite.<br \/>La Banque de financement et d\u2019investissement affiche des revenus records sur l\u2019ann\u00e9e, confirmant la bonne performance des activit\u00e9s de march\u00e9s et de financement.<br \/>Profil de risque : stabilit\u00e9 et prudence<br \/>Le co\u00fbt du risque du Groupe s\u2019\u00e9tablit \u00e0 28 points de base sur quatre trimestres glissants (35 pb pour Cr\u00e9dit Agricole S.A.). Le taux de couverture des cr\u00e9ances douteuses demeure \u00e9lev\u00e9 \u00e0 82,2 % pour le Groupe, tandis que le taux de cr\u00e9ances douteuses de Cr\u00e9dit Agricole S.A. reste contenu \u00e0 2,4 %.<br \/>Le stock de provisions du Groupe atteint 22,2 milliards d\u2019euros, dont 41 % sur encours sains, traduisant une approche prudente int\u00e9grant plusieurs sc\u00e9narios macro\u00e9conomiques pond\u00e9r\u00e9s.<\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">\u00a0<\/b><\/p><p><b style=\"letter-spacing: 0.4px; font-size: 1rem;\">Capital et solvabilit\u00e9<\/b><\/p><p>Les ratios de solvabilit\u00e9 restent \u00e0 des niveaux \u00e9lev\u00e9s, avec un CET1 phas\u00e9 de 17,4 % pour le Groupe Cr\u00e9dit Agricole et 11,8 % pour Cr\u00e9dit Agricole S.A.. Cette solidit\u00e9 capitalistique soutient la capacit\u00e9 de financement de l\u2019\u00e9conomie et l\u2019ex\u00e9cution des op\u00e9rations strat\u00e9giques engag\u00e9es en 2025.<\/p><p><b>\u00a0<\/b><\/p><p><b>Perspectives et transformation<\/b><\/p><p>L\u2019ann\u00e9e 2026 s\u2019ouvre avec la poursuite du d\u00e9ploiement strat\u00e9gique en France (digitalisation des parcours, offres d\u00e9di\u00e9es aux jeunes et aux professionnels) et \u00e0 l\u2019international (d\u00e9veloppement en Allemagne et en Asie), ainsi que des chantiers d\u2019innovation autour de la tokenisation, de l\u2019IA et de la simplification des processus.<br \/>En parall\u00e8le, le Groupe poursuit son engagement en faveur de la transition \u00e9nerg\u00e9tique, avec une forte progression des financements bas-carbone et une am\u00e9lioration de sa notation climat (CDP A).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72322e0 elementor-widget elementor-widget-image\" data-id=\"72322e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"241\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12-1030x310.png\" class=\"attachment-large size-large wp-image-27576\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12-1030x310.png 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12-300x90.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12-768x231.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12-18x5.png 18w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.40.12.png 1203w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5f1295d\" data-id=\"5f1295d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25d07ff elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"25d07ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"61\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/credit-agricole-e1782814307945.png\" class=\"attachment-large size-large wp-image-13613\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/credit-agricole-e1782814307945.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2022\/08\/credit-agricole-e1782814307945-18x4.png 18w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c8ed7d4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c8ed7d4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4066204\" data-id=\"4066204\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7f920de elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7f920de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-96a4674 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"96a4674\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1bd62bf\" data-id=\"1bd62bf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c1a27ef elementor-widget elementor-widget-menu-anchor\" data-id=\"c1a27ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"bnp\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-427f3d7 elementor-widget elementor-widget-heading\" data-id=\"427f3d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2025, un exercice record port\u00e9 par la diversification et la ma\u00eetrise du risque pour BNP<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b037e2e elementor-widget elementor-widget-text-editor\" data-id=\"b037e2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/invest.bnpparibas\/document\/4t25-cp\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14598c3 elementor-widget elementor-widget-text-editor\" data-id=\"14598c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>BNP Paribas publie pour 2025 des r\u00e9sultats record, marqu\u00e9s par un quatri\u00e8me trimestre particuli\u00e8rement dynamique. Le produit net bancaire atteint 51,2 milliards d\u2019euros sur l\u2019ann\u00e9e (+4,9 %) et 13,1 milliards d\u2019euros au 4T25 (+8,0 %), port\u00e9 par la solidit\u00e9 du mod\u00e8le diversifi\u00e9 et int\u00e9gr\u00e9 du Groupe.<\/p><p>Le r\u00e9sultat net part du Groupe s\u2019\u00e9tablit \u00e0 12,2 milliards d\u2019euros en 2025 (+4,6 %), dont 3,0 milliards d\u2019euros au quatri\u00e8me trimestre (+28 %), confirmant l\u2019acc\u00e9l\u00e9ration de la performance op\u00e9rationnelle en fin d\u2019exercice. Le ROTE ressort \u00e0 11,6 %, en ligne avec l\u2019objectif fix\u00e9, et le ratio CET1 \u00e0 12,6 %, largement sup\u00e9rieur aux exigences r\u00e9glementaires.<\/p><p><b><br \/>Dynamique des p\u00f4les op\u00e9rationnels<\/b><\/p><p>La performance est soutenue par les trois divisions :<\/p><ul><li>Corporate &amp; Institutional Banking (CIB) affiche un niveau de revenus \u00e9lev\u00e9, avec une forte contribution des activit\u00e9s de march\u00e9s et des services titres.<\/li><li>Commercial, Personal Banking &amp; Services (CPBS) enregistre un net rebond, notamment dans la zone euro, b\u00e9n\u00e9ficiant d\u2019un environnement de taux redevenu structurellement favorable.<\/li><li>Investment &amp; Protection Services (IPS) progresse fortement, port\u00e9 par l\u2019int\u00e9gration d\u2019AXA IM et la croissance de l\u2019Assurance, de la gestion d\u2019actifs et de la gestion de fortune.<\/li><\/ul><p><strong>Efficacit\u00e9 op\u00e9rationnelle et effet de ciseaux<\/strong><\/p><p>Les frais de gestion sont ma\u00eetris\u00e9s (+3,9 % sur l\u2019ann\u00e9e), permettant un effet de ciseaux positif et une am\u00e9lioration du coefficient d\u2019exploitation \u00e0 61,2 % (contre 61,8 % en 2024). Les mesures d\u2019efficacit\u00e9 engag\u00e9es repr\u00e9sentent 800 M\u20ac d\u2019\u00e9conomies en 2025, au-del\u00e0 des objectifs initiaux.<\/p><p><strong>Profil de risque contenu<\/strong><\/p><p>Le co\u00fbt du risque s\u2019\u00e9tablit \u00e0 36 points de base sur l\u2019ann\u00e9e (34 pb au 4T25), inf\u00e9rieur au plafond de 40 pb fix\u00e9 pour la trajectoire 2024-2026. Le taux de cr\u00e9ances douteuses demeure bas \u00e0 1,6 %, avec un stock de provisions de 18,2 milliards d\u2019euros et un taux de couverture de 66,9 %.<\/p><p><strong>Capital, distribution et trajectoire strat\u00e9gique<\/strong><\/p><p>Le ratio CET1 atteint 12,6 % \u00e0 fin 2025. Le Groupe propose un dividende total de 5,16 \u20ac par action (+7,7 %) et a finalis\u00e9 un programme de rachat d\u2019actions de 1,15 Md\u20ac.<br \/>Fort de ces r\u00e9sultats, BNP Paribas confirme sa trajectoire 2024-2026 (ROTE 12 % en 2026, co\u00fbt du risque &lt; 40 pb) et rel\u00e8ve ses objectifs \u00e0 horizon 2028 : ROTE sup\u00e9rieur \u00e0 13 % et coefficient d\u2019exploitation inf\u00e9rieur \u00e0 56 %.<\/p><p>En 2025, BNP Paribas d\u00e9montre ainsi la r\u00e9silience et la puissance de son mod\u00e8le int\u00e9gr\u00e9 : croissance des revenus, discipline des co\u00fbts, profil de risque ma\u00eetris\u00e9 et g\u00e9n\u00e9ration de capital solide, dans un environnement de taux redevenu plus favorable.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c229ff3 elementor-widget elementor-widget-image\" data-id=\"c229ff3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"609\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.46.19.png\" class=\"attachment-large size-large wp-image-27577\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.46.19.png 907w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.46.19-300x228.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.46.19-768x584.png 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2026\/03\/Capture-decran-2026-03-04-a-12.46.19-16x12.png 16w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0918764\" data-id=\"0918764\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b504690 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"b504690\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"242\" height=\"112\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2024\/03\/BNP-Paribas-e1767800307699.jpg\" class=\"attachment-large size-large wp-image-17433\" alt=\"\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2024\/03\/BNP-Paribas-e1767800307699.jpg 242w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2024\/03\/BNP-Paribas-e1767800307699-18x8.jpg 18w\" sizes=\"(max-width: 242px) 100vw, 242px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>On vous r\u00e9sume les derniers r\u00e9sultats du march\u00e9 de l&#8217;assurance en vous pr\u00e9sentant les chiffres cl\u00e9s.<\/p>\n","protected":false},"author":1,"featured_media":27593,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[751],"tags":[718],"class_list":["post-27549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fr","tag-restez-au-courant"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>R\u00e9sultats annuels 2025\uff5cFrance - Asquarepartners.com<\/title>\n<meta name=\"description\" content=\"Les r\u00e9sultats annuels du march\u00e9 de l&#039;assurance en France sont tomb\u00e9s! 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