- Attributable net profit of €859 million, up 3.4% (+5.6% at constant scope and exchange rates) vs. H1 2025;
- NBI*$ growth (+7.2% vs. H1 2025) at €4.2 billion, driven by the strong increase in NIM (+23.4%);
- Operating expenses*$ under control at €2.5 billion (+0.9% vs. H1 2025) thanks to operational efficiency gains creating a very positive jaw effect (+6.3 points);
- Operating profit up 17.7% to €1.6 billion;
- Cost-income ratio*$ at 58.7%, a marked improvement of 3.7 points year-on-year;
- Cost of risk*$ at €148 million, or 13 basis points (+1.6 bps vs. H1 2025);
- RONE at 12.2%, stable (-0.2 points) vs. H1 2025*$.
Restated 2025 data (see Note on methodology; Note on Alternative Performance Measures).
Restated 2025 data (see Note on methodology; Note on Alternative Performance Measures).
Restated 2025 data (see Note on methodology; Note on Alternative Performance Measures).
Restated 2025 data (see Note on methodology; Note on Alternative Performance Measures).
RONE = Attributable net profit/Average risk-weighted assets capitalised at 14%.
Financial structure
- High solvency position with a CET1 ratio of 19.0%*$, including change in dividend distribution policy from 45% to 55% of attributable net profit;
- Robust liquidity position with LCR at 172% and NSFR at 124%*$;
- CNP Assurances Group’s SCR coverage ratio was 247% at the end of June 2026.
Estimated Ratio.
Estimated Ratio.
Dynamic sales performance
- Solid gross inflows in life insurance (+5.5%) and increase in digital sales (+6%) in the Retail Banking and Insurance – LBP network;
- Sharp increase in loan originations to business customers (+14.0%);
- Record assets under discretionary management at Louvre Banque Privée at over €16 billion.
Non-financial performance
Sustainable financing*$: 29% (-1.5 pts) of total medium- and long-term originations; Near-zero exposure to fossil fuels: 0.003%*$.
Share of financing of social and regional projects to support the energy transition, in total new medium- and long-term originations to retail customers, corporates and institutions. The classification of sustainable loans was subject to a methodological change in 2026.
Data at 31 December 2025. Exposure corresponding to the share of financing and investments in the “Corporate” portfolio in the coal, oil and gas sectors, excluding companies with a transition plan and/or renewable energy projects (net exposure amount: €1.2 million).
“The good results of the first half of the year confirm the strength of our banking and insurance model and the successful execution of our transformation plan, with a significant improvement in our cost-income ratio.
As La Banque Postale celebrates its 20th anniversary, we are continuing the transformation of our Group, with the aim of offering all our customers the best in digital technology combined with personalised human advice. The partnership with Mistral AI is a major step in the digitalisation of our activities and customer journeys, with the integration of high-performance, sovereign and energy-efficient AI solutions. This half-year was also marked by several major developments, such as the roll-out of CNP Assurances’ new strategic plan, the dynamic sales performance of our corporate loan business, Louvre Banque Privée’s crossing of the €16 billion mark in assets under discretionary management, as well as the announcement of the planned merger between LBP AM and La Financière de l'Échiquier in order to create a new leading player in asset management in Europe.
This momentum is accompanied by a renewed commitment to environmental and societal transitions with the adoption of new 2030 indicators linked to our status as a mission-led company, as well as the launch of low-carbon factoring and decarbonisation loans within our Corporate and Local Development Banking.
In a volatile and demanding environment, marked by increased competition across all our business lines, we are pursuing our roadmap with confidence and determination in order to build sustainable performance to serve our customers. I would like to sincerely thank all of our postal worker, bankers and insurers, whose commitment has been key to achieving these results.”
1. Restated 2025 data (see Note on methodology; Note on Alternative Performance Measures).
2. RONE = Attributable net profit/Average risk-weighted assets capitalised at 14%.
3. Estimated Ratio.
4. Share of financing of social and regional projects to support the energy transition, in total new medium- and long-term originations to retail customers, corporates and institutions. The classification of sustainable loans was subject to a methodological change in 2026.
5. Data at 31 December 2025. Exposure corresponding to the share of financing and investments in the “Corporate” portfolio in the coal, oil and gas sectors, excluding companies with a transition plan and/or renewable energy projects (net exposure amount: €1.2 million).