In 2024, CIC posted a high net income of €1.7 billion, driven by strong momentum in the specialized business lines

In a difficult economic and political environment, CIC maintained its high level of income in 2024, with net revenues stabilizing at €6.3 billion (-2.9%) and net income at €1.7 billion (-13.2%).

These results were driven by the excellent performance of revenues from the specialized business lines, particularly corporate banking (+9.5%), capital markets (+12.9%) and private equity (+4.8%). This partly offset the decline in retail banking (-3%), which remained resilient. However, it was negatively affected by strong pressure on net interest margins in the French banking networks, by the worsening economic outlook, and by a post-Covid catch-up effect in corporate failures, which weighed on the cost of risk. The business line subsidiaries (leasing and factoring) benefited from the rise in interest rates, with net revenue up +21.2%.

General operating expenses were kept under control at €3.7 billion (-1.8%). This performance was achieved against a backdrop of major technological and strategic investments linked to the new 2024-2027 strategic plan, a strong social pact with its employees, notably in terms of salary increases, and its corporate philanthropy policy in line with its benefit corporation status.

At end-December, CIC posted a strong operating performance, with a cost/income ratio of 59.3%. With €21.1 billion in shareholders' equity at December 31, 2024 (+€0.8 billion), CIC confirms its solidity and the relevance of its diversified business model.