Groupe BPCE reported a 25% year-over-year increase in third-quarter net income attributable to the group, with nine-month growth in French and European retail banking adding to the French lender’s broader earnings expansion.
The quarter brought €6.983 billion in net banking income, 9% more than a year earlier. For the first nine months of 2026, net income reached €3.784 billion, up from €2.957 billion, while net banking income totaled €20.903 billion, a 10% increase. BPCE said its year-over-year comparisons use restated, pro forma figures.
French retail banking net banking income totaled €12.706 billion over the first nine months, 11% above the year-earlier period. The Banque Populaire and Caisse d’Epargne networks added 610,000 clients year to date. In Europe, retail banking net banking income rose 121% to €1.268 billion; BPCE cited novobanco’s contribution.
Spending totaled €4.339 billion in the third quarter, 4% above the year-earlier quarter. BPCE’s underlying cost-to-income ratio improved to 60.7%, a decrease of 2.6 percentage points. Third-quarter net income included a €36 million exceptional tax contribution; the nine-month net income figure included €207 million.
BPCE estimated its common equity Tier 1 capital ratio at 15.5% at the end of September. It also reported €347 billion in liquidity reserves and a third-quarter liquidity coverage ratio of 156%, calculated using the average of end-of-month ratios.
Separately, BPCE signed a memorandum of understanding with funds advised by Apax Partners LLP concerning BPCE Assurances’ proposed acquisition of 100% of Portuguese insurer GamaLife’s share capital. The deal remains subject to employee consultations and regulatory approvals, and BPCE expects it to close in the first half of 2027. Its investor calendar schedules the group’s fourth-quarter and full-year 2026 results for Feb. 2, 2027.
